Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $20.50.
Several equities research analysts have commented on the stock. Leerink Partners dropped their price objective on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. HC Wainwright dropped their target price on Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research report on Thursday, December 12th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th.
Read Our Latest Analysis on RLAY
Relay Therapeutics Stock Up 7.4 %
Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.14. During the same period in the previous year, the company earned ($0.54) earnings per share. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Relay Therapeutics will post -2.55 earnings per share for the current year.
Insider Transactions at Relay Therapeutics
In other Relay Therapeutics news, CEO Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $5.00, for a total transaction of $500,000.00. Following the completion of the sale, the chief executive officer now owns 574,548 shares of the company’s stock, valued at $2,872,740. The trade was a 14.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas Catinazzo sold 6,802 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the transaction, the chief financial officer now owns 306,391 shares of the company’s stock, valued at $1,856,729.46. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,319 shares of company stock valued at $781,067. 4.32% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Relay Therapeutics
Institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its position in Relay Therapeutics by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 354,667 shares of the company’s stock valued at $2,312,000 after purchasing an additional 48,219 shares during the last quarter. Rhumbline Advisers grew its holdings in Relay Therapeutics by 4.8% in the 2nd quarter. Rhumbline Advisers now owns 163,895 shares of the company’s stock worth $1,069,000 after acquiring an additional 7,508 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Relay Therapeutics by 11.2% in the second quarter. Victory Capital Management Inc. now owns 76,539 shares of the company’s stock valued at $499,000 after acquiring an additional 7,680 shares during the period. Los Angeles Capital Management LLC raised its position in Relay Therapeutics by 661.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 106,169 shares of the company’s stock valued at $692,000 after purchasing an additional 92,230 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Relay Therapeutics by 19.4% in the 2nd quarter. American Century Companies Inc. now owns 178,088 shares of the company’s stock worth $1,161,000 after buying an additional 28,894 shares during the period. Institutional investors own 96.98% of the company’s stock.
Relay Therapeutics Company Profile
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.
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