Relay Therapeutics, Inc. (NASDAQ:RLAY – Get Free Report)’s share price traded down 7.4% during mid-day trading on Monday . The company traded as low as $18.44 and last traded at $18.5160. 236,673 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 3,392,015 shares. The stock had previously closed at $20.00.
Analyst Ratings Changes
A number of brokerages have commented on RLAY. Barclays increased their price objective on shares of Relay Therapeutics from $21.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. JonesTrading raised shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. The Goldman Sachs Group upped their target price on shares of Relay Therapeutics from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Citigroup reissued an “outperform” rating on shares of Relay Therapeutics in a research note on Wednesday, May 20th. Finally, HC Wainwright raised their price target on shares of Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $23.73.
Read Our Latest Stock Analysis on RLAY
Relay Therapeutics Stock 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 (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The company had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $5.58 million. Analysts forecast that Relay Therapeutics, Inc. will post -1.57 EPS for the current year.
Insiders Place Their Bets
In other Relay Therapeutics news, insider Peter Rahmer sold 50,000 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total value of $954,500.00. Following the completion of the sale, the insider directly owned 225,857 shares in the company, valued at $4,311,610.13. This represents a 18.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjiv Patel sold 48,199 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total value of $943,736.42. Following the sale, the chief executive officer directly owned 615,898 shares in the company, valued at approximately $12,059,282.84. This represents a 7.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 426,127 shares of company stock worth $7,426,087. 5.04% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Relay Therapeutics
Several institutional investors and hedge funds have recently modified their holdings of RLAY. AQR Capital Management LLC lifted its stake 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 buying an additional 38,812 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Relay Therapeutics by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock valued at $221,000 after acquiring an additional 5,238 shares in the last quarter. Millennium Management LLC boosted its stake in Relay Therapeutics by 14.6% in 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 period. Dynamic Technology Lab Private Ltd acquired a new position in Relay Therapeutics in the 1st quarter worth $53,000. Finally, Woodline Partners LP increased its holdings in Relay Therapeutics by 448.4% during the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after purchasing an additional 1,241,657 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.
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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