Brokerages Set Relay Therapeutics, Inc. (NASDAQ:RLAY) Target Price at $17.00

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been given a consensus recommendation of “Moderate Buy” by the seven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $17.00.

A number of analysts have recently issued reports on RLAY shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. Wells Fargo & Company raised shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $6.00 to $13.00 in a report on Friday, December 12th.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY opened at $7.43 on Wednesday. Relay Therapeutics has a 1-year low of $1.77 and a 1-year high of $9.04. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -4.25 and a beta of 1.55. The business has a 50-day moving average of $7.84 and a 200-day moving average of $5.83.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.04). Research analysts expect that Relay Therapeutics will post -2.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Thomas Catinazzo sold 21,664 shares of Relay Therapeutics stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $7.29, for a total transaction of $157,930.56. Following the sale, the chief financial officer directly owned 313,631 shares of the company’s stock, valued at approximately $2,286,369.99. The trade was a 6.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald A. Bergstrom sold 30,897 shares of the business’s stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $7.29, for a total value of $225,239.13. Following the completion of the transaction, the insider owned 521,823 shares in the company, valued at approximately $3,804,089.67. This trade represents a 5.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 198,331 shares of company stock valued at $1,455,204 over the last ninety days. Insiders own 4.87% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quinn Opportunity Partners LLC acquired a new position in Relay Therapeutics in the second quarter worth about $35,000. FNY Investment Advisers LLC lifted its holdings in Relay Therapeutics by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $34,000 after buying an additional 5,000 shares during the last quarter. May Hill Capital LLC bought a new position in Relay Therapeutics during the 2nd quarter worth approximately $38,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of Relay Therapeutics in the 2nd quarter worth approximately $39,000. Finally, Abel Hall LLC bought a new stake in shares of Relay Therapeutics in the 3rd quarter valued at approximately $58,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.