Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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

A number of equities research analysts have commented on the company. The Goldman Sachs Group assumed coverage on Relay Therapeutics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $20.00 price target for the company. HC Wainwright increased their price objective on shares of Relay Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, September 16th. JPMorgan Chase & Co. dropped their target price on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Barclays raised their price target on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $28.00 price objective on shares of Relay Therapeutics in a report on Monday, September 16th.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 10,780 shares of Relay Therapeutics stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $8.56, for a total transaction of $92,276.80. Following the completion of the transaction, the chief financial officer now owns 319,650 shares in the company, valued at approximately $2,736,204. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Peter Rahmer sold 13,708 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $8.19, for a total transaction of $112,268.52. Following the sale, the insider now directly owns 391,929 shares of the company’s stock, valued at approximately $3,209,898.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas Catinazzo sold 10,780 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $8.56, for a total transaction of $92,276.80. Following the sale, the chief financial officer now owns 319,650 shares in the company, valued at approximately $2,736,204. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,717 shares of company stock valued at $652,955. 4.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BVF Inc. IL increased its stake in shares of Relay Therapeutics by 67.8% in the 4th quarter. BVF Inc. IL now owns 3,970,045 shares of the company’s stock valued at $43,710,000 after purchasing an additional 1,604,240 shares in the last quarter. Logos Global Management LP purchased a new stake in shares of Relay Therapeutics in the second quarter valued at approximately $8,476,000. Vanguard Group Inc. raised its stake in shares of Relay Therapeutics by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock worth $98,070,000 after buying an additional 1,165,282 shares during the period. Bellevue Group AG lifted its position in shares of Relay Therapeutics by 21.5% during the 4th quarter. Bellevue Group AG now owns 5,936,082 shares of the company’s stock valued at $65,356,000 after buying an additional 1,051,082 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Relay Therapeutics by 404.2% during the 2nd quarter. Millennium Management LLC now owns 1,149,177 shares of the company’s stock valued at $7,493,000 after buying an additional 921,271 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Stock Down 2.9 %

NASDAQ RLAY opened at $6.34 on Thursday. Relay Therapeutics has a 52 week low of $5.70 and a 52 week high of $12.14. The company has a 50 day moving average price of $7.21 and a 200 day moving average price of $7.16. The firm has a market cap of $848.86 million, a PE ratio of -2.40 and a beta of 1.64.

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

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.