Relay Therapeutics, Inc. (NASDAQ:RLAY – Get Free Report)’s stock price traded down 6.1% on Thursday . The company traded as low as $14.32 and last traded at $14.3610. 1,716,832 shares traded hands during trading, a decline of 45% from the average session volume of 3,141,129 shares. The stock had previously closed at $15.30.
Analysts Set New Price Targets
Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Wednesday, April 8th. Raymond James Financial reissued a “strong-buy” rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. The Goldman Sachs Group raised their price target on shares of Relay Therapeutics from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Citizens Jmp boosted their price objective on shares of Relay Therapeutics from $19.00 to $21.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 20th. Finally, UBS Group set a $26.00 target price on shares of Relay Therapeutics in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Relay Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $23.30.
Get Our Latest Stock Report on Relay Therapeutics
Relay Therapeutics Trading Down 7.0%
Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) EPS 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 analysts’ expectations of $5.58 million. On average, analysts predict that Relay Therapeutics, Inc. will post -1.6 earnings per share for the current fiscal year.
Insider Buying and Selling at Relay Therapeutics
In related news, CFO Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $12.86, for a total transaction of $227,840.62. Following the sale, the chief financial officer 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 40,449 shares of company stock valued at $532,889 over the last three months. Corporate insiders own 5.04% of the company’s stock.
Hedge Funds Weigh In On Relay Therapeutics
Several institutional investors have recently added to or reduced their stakes in the company. Seven Fleet Capital Management LP raised its holdings in shares of Relay Therapeutics by 253.1% during the 1st quarter. Seven Fleet Capital Management LP now owns 257,738 shares of the company’s stock worth $2,564,000 after acquiring an additional 184,738 shares in the last quarter. Perceptive Advisors LLC grew its holdings in shares of Relay Therapeutics by 412.3% in 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 in the last quarter. Bank of America Corp DE increased its position in Relay Therapeutics by 86.1% in the first quarter. Bank of America Corp DE now owns 1,937,695 shares of the company’s stock worth $19,280,000 after purchasing an additional 896,746 shares during the last quarter. Janus Henderson Group PLC raised its stake in Relay Therapeutics by 77.8% during the first quarter. Janus Henderson Group PLC now owns 65,573 shares of the company’s stock valued at $652,000 after purchasing an additional 28,700 shares in the last quarter. Finally, Amundi purchased a new stake in Relay Therapeutics during the first quarter valued at $213,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.
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.
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