Relay Therapeutics (NASDAQ:RLAY) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Relay Therapeutics (NASDAQ:RLAY) from a sell rating to a hold rating in a research report released on Saturday morning,Wall Street Zen reports.

Other research analysts have also issued reports about the company. Barclays raised their price objective on Relay Therapeutics from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Guggenheim reissued a “buy” rating on shares of Relay Therapeutics in a report on Friday, August 7th. Zacks Research upgraded shares of Relay Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Citizens Jmp lifted their target price on Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a research report on Monday, August 10th. Finally, The Goldman Sachs Group lifted their price target on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $25.92.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY opened at $18.60 on Friday. Relay Therapeutics has a 1 year low of $5.95 and a 1 year high of $21.27. The firm’s 50 day moving average price is $18.31 and its 200 day moving average price is $15.20. The firm has a market cap of $4.08 billion, a P/E ratio of -12.32 and a beta of 1.74.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.03. As a group, equities analysts predict that Relay Therapeutics will post -1.59 EPS for the current year.

Insider Buying and Selling

In other Relay Therapeutics news, major shareholder Pauling (Cayman) Ltd Svf sold 6,000,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $19.40, for a total value of $116,400,000.00. Following the transaction, the insider owned 21,904,963 shares of the company’s stock, valued at approximately $424,956,282.20. This represents a 21.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Peter Rahmer sold 4,508 shares of the business’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $20.03, for a total value of $90,295.24. Following the sale, the insider directly owned 223,657 shares in the company, valued at $4,479,849.71. This trade represents a 1.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 6,149,344 shares of company stock worth $119,185,625. 5.04% of the stock is owned by corporate insiders.

Institutional Trading of Relay Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of RLAY. BlackRock Inc. acquired a new position in Relay Therapeutics during the second quarter valued at $286,042,000. Perceptive Advisors LLC boosted its position in Relay Therapeutics by 412.3% during the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after purchasing an additional 7,847,896 shares during the last quarter. Spruce Street Capital LP bought a new stake in shares of Relay Therapeutics in the 2nd quarter valued at approximately $55,832,979. Dimensional Fund Advisors LP grew its position in Relay Therapeutics by 18.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,940,536 shares of the company’s stock worth $29,248,000 after acquiring an additional 460,186 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in Relay Therapeutics in the second quarter worth $50,425,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines for cancer and other serious diseases. The company uses its Dynamo platform, which combines structural biology, computational modeling, machine learning and experimental science to study how proteins move and interact. Relay aims to use this approach to identify precisely targeted therapies, including medicines designed to bind to previously difficult-to-drug sites.

The company’s pipeline has primarily focused on oncology, including investigational small-molecule therapies directed at cancer-driving proteins and signaling pathways.