Relay Therapeutics (NASDAQ:RLAY) Stock Rating Reaffirmed by JMP Securities

Relay Therapeutics (NASDAQ:RLAY)‘s stock had its “market outperform” rating reaffirmed by equities research analysts at JMP Securities in a note issued to investors on Tuesday, Benzinga reports. They currently have a $21.00 target price on the stock. JMP Securities’ target price suggests a potential upside of 177.04% from the stock’s previous close.

RLAY has been the subject of a number of other reports. Oppenheimer downgraded Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. Barclays lifted their target price on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Bank of America lifted their target price on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $28.00 target price on shares of Relay Therapeutics in a report on Monday. Finally, Jefferies Financial Group upgraded Relay Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.60 to $16.00 in a report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.11.

Relay Therapeutics Trading Down 0.3 %

Shares of RLAY stock opened at $7.58 on Tuesday. The business’s 50-day moving average price is $7.60 and its 200-day moving average price is $7.34. Relay Therapeutics has a 12 month low of $5.70 and a 12 month high of $12.14. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -2.87 and a beta of 1.64.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same period last year, the business earned ($0.81) earnings per share. On average, sell-side analysts predict that Relay Therapeutics will post -2.86 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Sanjiv Patel sold 36,706 shares of Relay Therapeutics stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $9.07, for a total transaction of $332,923.42. Following the transaction, the chief executive officer now owns 766,130 shares of the company’s stock, valued at $6,948,799.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Sanjiv Patel sold 36,706 shares of Relay Therapeutics stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $9.07, for a total transaction of $332,923.42. Following the transaction, the chief executive officer now owns 766,130 shares of the company’s stock, valued at $6,948,799.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas Catinazzo sold 9,373 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $6.24, for a total value of $58,487.52. Following the transaction, the chief financial officer now directly owns 330,430 shares in the company, valued at approximately $2,061,883.20. The disclosure for this sale can be found here. Insiders sold a total of 84,738 shares of company stock worth $715,499 over the last quarter. 4.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC purchased a new position in Relay Therapeutics in the second quarter worth $37,000. Allspring Global Investments Holdings LLC purchased a new position in Relay Therapeutics in the first quarter worth $79,000. Virtu Financial LLC purchased a new position in Relay Therapeutics in the first quarter worth $87,000. Los Angeles Capital Management LLC boosted its position in Relay Therapeutics by 25.7% in the first quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after purchasing an additional 2,850 shares during the last quarter. Finally, Victory Capital Management Inc. purchased a new position in Relay Therapeutics in the fourth quarter worth $126,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

About Relay Therapeutics

Relay Therapeutics, Inc operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company's lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors.