Relay Therapeutics (NASDAQ:RLAY) Raised to Hold at Zacks Research

Relay Therapeutics (NASDAQ:RLAY) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

RLAY has been the subject of a number of other reports. Citizens Jmp upped their price target on shares of Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a research report on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Monday, July 6th. Wells Fargo & Company raised their price objective on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. HC Wainwright boosted their price objective on Relay Therapeutics from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Oppenheimer upped their target price on Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $25.92.

Relay Therapeutics Stock Performance

NASDAQ RLAY opened at $19.44 on Thursday. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -12.38 and a beta of 1.69. Relay Therapeutics has a one year low of $3.43 and a one year high of $21.27. The company’s 50 day moving average price is $18.86 and its 200 day moving average price is $14.35.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share (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. Sell-side analysts forecast that Relay Therapeutics will post -1.6 EPS for the current fiscal year.

Insider Activity

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 93,456 shares of the business’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $16.94, for a total value of $1,583,144.64. Following the transaction, the insider owned 418,557 shares in the company, valued at $7,090,355.58. The trade was a 18.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Peter Rahmer sold 50,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total transaction of $954,500.00. Following the completion of the transaction, the insider owned 225,857 shares in the company, valued at $4,311,610.13. This represents a 18.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 409,639 shares of company stock valued at $7,233,399 over the last ninety days. 5.04% of the stock is owned by company insiders.

Institutional Trading of Relay Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RLAY. AQR Capital Management LLC boosted its holdings in Relay Therapeutics by 11.9% in the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock valued at $956,000 after purchasing an additional 38,812 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Relay Therapeutics by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock valued at $221,000 after purchasing an additional 5,238 shares in the last quarter. Millennium Management LLC increased its holdings in Relay Therapeutics by 14.6% during the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after purchasing an additional 374,491 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Relay Therapeutics during the 1st quarter worth approximately $53,000. Finally, Woodline Partners LP raised its position in shares of Relay Therapeutics by 448.4% in the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock valued at $3,979,000 after purchasing an additional 1,241,657 shares in the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

About Relay Therapeutics

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.