Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY – Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $12.10, but opened at $13.00. Relay Therapeutics shares last traded at $12.9860, with a volume of 5,361,414 shares trading hands.
Analyst Ratings Changes
RLAY has been the subject of a number of recent analyst reports. Oppenheimer increased their price target on shares of Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Citigroup reissued an “outperform” rating on shares of Relay Therapeutics in a research report on Tuesday, April 28th. Barclays increased their price objective on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. JonesTrading assumed coverage on shares of Relay Therapeutics in a research report on Tuesday, April 14th. They issued a “hold” rating and a $18.00 price objective on the stock. Finally, Citizens Jmp increased their price objective on shares of Relay Therapeutics from $17.00 to $19.00 and gave the company a “market outperform” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $20.56.
Check Out Our Latest Analysis on RLAY
Relay Therapeutics Price Performance
Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The firm had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.58 million. On average, analysts anticipate that Relay Therapeutics, Inc. will post -1.6 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Thomas Catinazzo sold 17,717 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $12.86, for a total transaction of $227,840.62. Following the transaction, the chief financial officer directly owned 195,178 shares of the company’s stock, valued at approximately $2,509,989.08. This trade represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 40,449 shares of company stock worth $532,889 over the last 90 days. 5.04% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Relay Therapeutics
A number of hedge funds have recently bought and sold shares of RLAY. AQR Capital Management LLC increased its position in Relay Therapeutics by 11.9% during the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after acquiring an additional 38,812 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Relay Therapeutics by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after acquiring an additional 5,238 shares during the period. Millennium Management LLC increased its position in Relay Therapeutics by 14.6% during the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after acquiring an additional 374,491 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Relay Therapeutics during the first quarter worth about $53,000. Finally, Woodline Partners LP increased its position in Relay Therapeutics by 448.4% during the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after acquiring an additional 1,241,657 shares during the period. 96.98% of the stock is owned by 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.
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