Relay Therapeutics (NASDAQ:RLAY) Stock Price Expected to Rise, HC Wainwright Analyst Says

Relay Therapeutics (NASDAQ:RLAY) had its target price raised by research analysts at HC Wainwright from $28.00 to $29.00 in a report issued on Thursday, Marketbeat.com reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 39.83% from the stock’s current price.

RLAY has been the subject of several other research reports. Canaccord Genuity Group assumed coverage on shares of Relay Therapeutics in a report on Thursday, July 16th. They issued a “buy” rating and a $29.00 target price for the company. JPMorgan Chase & Co. increased their target price on shares of Relay Therapeutics from $28.00 to $31.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Raymond James Financial reiterated a “strong-buy” rating on shares of Relay Therapeutics in a research note on Tuesday, May 19th. UBS Group set a $26.00 price target on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $25.92.

Relay Therapeutics Stock Up 0.6%

RLAY stock opened at $20.74 on Thursday. The business has a 50 day moving average price of $18.66 and a 200 day moving average price of $14.23. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of -13.21 and a beta of 1.69. Relay Therapeutics has a fifty-two week low of $3.31 and a fifty-two week high of $21.27.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The business had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. As a group, sell-side analysts anticipate that Relay Therapeutics will post -1.6 EPS for the current year.

Insider Buying and Selling at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 48,199 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total transaction of $943,736.42. Following the completion of the sale, the chief executive officer owned 615,898 shares in the company, valued at approximately $12,059,282.84. This represents a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Catinazzo sold 187,163 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $16.97, for a total value of $3,176,156.11. Following the transaction, the chief financial officer directly owned 177,461 shares in the company, valued at approximately $3,011,513.17. This represents a 51.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 409,639 shares of company stock valued at $7,233,399. Company insiders own 5.04% of the company’s stock.

Institutional Trading of Relay Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Relay Therapeutics during the 2nd quarter worth approximately $286,042,000. Commodore Capital LP acquired a new position in shares of Relay Therapeutics in the second quarter valued at approximately $46,191,000. Casdin Capital LLC raised its stake in shares of Relay Therapeutics by 14.7% during the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock worth $110,010,000 after purchasing an additional 1,662,193 shares during the last quarter. Perceptive Advisors LLC raised its stake in shares of Relay Therapeutics by 412.3% during the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after purchasing an additional 7,847,896 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Relay Therapeutics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock worth $81,990,000 after purchasing an additional 295,701 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.

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.