Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives $21.11 Average PT from Analysts

Relay Therapeutics, Inc. (NASDAQ:RLAY) has earned an average rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $21.11.

Several brokerages have issued reports on RLAY. Bank of America boosted their price target on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. The Goldman Sachs Group began coverage on shares of Relay Therapeutics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 price target for the company. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the company from $10.60 to $16.00 in a report on Tuesday, September 10th. Stifel Nicolaus reissued a “buy” rating and issued a $28.00 target price on shares of Relay Therapeutics in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. cut their target price on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th.

Relay Therapeutics Stock Down 3.2 %

RLAY stock opened at $5.71 on Monday. The business’s 50-day simple moving average is $6.93 and its 200 day simple moving average is $7.03. The company has a market cap of $764.51 million, a PE ratio of -2.27 and a beta of 1.64. Relay Therapeutics has a twelve month low of $5.70 and a twelve month high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the prior year, the firm earned ($0.81) EPS. On average, equities research analysts anticipate that Relay Therapeutics will post -2.84 EPS for the current year.

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction on 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 in the company, valued at approximately $1,856,729.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Relay Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC acquired a new stake in shares of Relay Therapeutics in the second quarter valued at approximately $37,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Relay Therapeutics during the first quarter worth $79,000. Virtu Financial LLC acquired a new position in shares of Relay Therapeutics during the first quarter valued at $87,000. Values First Advisors Inc. bought a new position in Relay Therapeutics in the third quarter valued at about $75,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Relay Therapeutics in the first quarter valued at about $127,000. Institutional investors and hedge funds 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.