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

Relay Therapeutics, Inc. (NASDAQ:RLAY) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $20.50.

RLAY has been the topic of several research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research note on Tuesday. Leerink Partners lowered their price target on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. Finally, JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a report on Thursday, December 12th.

Insider Activity at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 6,802 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the completion of the transaction, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at $1,856,729.46. This trade represents a 2.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Rahmer sold 16,576 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.45, for a total transaction of $73,763.20. Following the completion of the sale, the insider now directly owns 308,754 shares in the company, valued at approximately $1,373,955.30. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 162,319 shares of company stock valued at $781,067. 4.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Relay Therapeutics

A number of large investors have recently modified their holdings of the business. Bellevue Group AG increased its position in shares of Relay Therapeutics by 15.7% in the third quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock valued at $52,230,000 after acquiring an additional 1,000,069 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Relay Therapeutics by 39.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock worth $39,064,000 after purchasing an additional 1,554,115 shares during the last quarter. State Street Corp raised its stake in shares of Relay Therapeutics by 1.2% during the 3rd quarter. State Street Corp now owns 4,300,216 shares of the company’s stock worth $30,446,000 after purchasing an additional 51,810 shares in the last quarter. Braidwell LP raised its stake in shares of Relay Therapeutics by 16.4% during the 3rd quarter. Braidwell LP now owns 3,499,427 shares of the company’s stock worth $24,776,000 after purchasing an additional 492,628 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Relay Therapeutics by 15.5% in the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock valued at $19,348,000 after buying an additional 367,473 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $3.81 on Friday. The stock has a market cap of $637.73 million, a PE ratio of -1.46 and a beta of 1.60. The stock has a 50-day moving average of $4.76 and a 200-day moving average of $6.29. Relay Therapeutics has a one year low of $3.77 and a one year high of $11.16.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.14. Relay Therapeutics’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.54) earnings per share. As a group, research analysts anticipate that Relay Therapeutics will post -2.55 earnings per share for the current year.

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.