Relay Therapeutics (NASDAQ:RLAY) Given New $22.00 Price Target at Guggenheim

Relay Therapeutics (NASDAQ:RLAY) had its target price lifted by Guggenheim from $15.00 to $22.00 in a research note published on Friday, Marketbeat.com reports. Guggenheim currently has a buy rating on the stock.

RLAY has been the topic of a number of other research reports. Oppenheimer raised Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price objective on the stock in a report on Monday, January 26th. Wells Fargo & Company raised their target price on Relay Therapeutics from $13.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $16.80.

Relay Therapeutics Trading Down 1.8%

Shares of RLAY opened at $10.36 on Friday. The stock’s 50 day moving average is $8.71 and its two-hundred day moving average is $7.19. Relay Therapeutics has a twelve month low of $1.77 and a twelve month high of $11.49. The firm has a market capitalization of $1.85 billion, a PE ratio of -6.40 and a beta of 1.55.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.06. The business had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $4.34 million. On average, sell-side analysts predict that Relay Therapeutics will post -2.55 EPS for the current year.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 11,684 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total transaction of $89,032.08. Following the sale, the insider directly owned 277,964 shares in the company, valued at approximately $2,118,085.68. The trade was a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjiv Patel sold 43,168 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $7.82, for a total value of $337,573.76. Following the completion of the sale, the chief executive officer directly owned 661,041 shares in the company, valued at $5,169,340.62. This trade represents a 6.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 93,302 shares of company stock worth $724,355. 4.87% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Torren Management LLC acquired a new stake in Relay Therapeutics in the 4th quarter valued at about $30,000. Smartleaf Asset Management LLC raised its position in Relay Therapeutics by 288.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after acquiring an additional 3,287 shares during the last quarter. Quadrant Capital Group LLC raised its position in Relay Therapeutics by 245.1% during the second quarter. Quadrant Capital Group LLC now owns 11,791 shares of the company’s stock worth $41,000 after acquiring an additional 8,374 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Relay Therapeutics in the fourth quarter valued at about $46,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Relay Therapeutics in the second quarter valued at about $47,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

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.