Relay Therapeutics, Inc. (NASDAQ:RLAY) Given Average Rating of “Moderate Buy” by Brokerages

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

Several research firms recently issued reports on RLAY. Stifel Nicolaus restated a “buy” rating and set a $28.00 price objective on shares of Relay Therapeutics in a research report on Monday, September 16th. HC Wainwright raised their price target on shares of Relay Therapeutics from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, September 16th. JPMorgan Chase & Co. reduced their price target 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. Oppenheimer lowered Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. Finally, The Goldman Sachs Group began coverage on Relay Therapeutics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 target price on the stock.

Insider Buying and Selling

In other Relay Therapeutics news, CEO Sanjiv Patel sold 36,706 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $9.07, for a total transaction of $332,923.42. Following the sale, the chief executive officer now directly owns 766,130 shares in the company, valued at $6,948,799.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Relay Therapeutics news, CEO Sanjiv Patel sold 36,706 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $9.07, for a total value of $332,923.42. Following the completion of the transaction, the chief executive officer now owns 766,130 shares of the company’s stock, valued at $6,948,799.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Peter Rahmer sold 13,523 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $8.54, for a total value of $115,486.42. Following the sale, the insider now directly owns 420,765 shares in the company, valued at $3,593,333.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,717 shares of company stock valued at $652,955. Corporate insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC acquired a new stake in Relay Therapeutics in the second quarter valued at approximately $37,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Relay Therapeutics during the 1st quarter worth $79,000. Virtu Financial LLC acquired a new position in shares of Relay Therapeutics during the first quarter worth $87,000. Los Angeles Capital Management LLC increased its holdings 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 valued at $116,000 after buying an additional 2,850 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Relay Therapeutics in the first quarter valued at $127,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Relay Therapeutics Price Performance

RLAY stock opened at $6.34 on Thursday. Relay Therapeutics has a 1 year low of $5.70 and a 1 year high of $12.14. The firm has a market capitalization of $848.86 million, a PE ratio of -2.40 and a beta of 1.64. The business has a 50 day simple moving average of $7.21 and a 200-day simple moving average of $7.16.

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