Relay Therapeutics (NASDAQ:RLAY) Given “Market Outperform” Rating at JMP Securities

Relay Therapeutics (NASDAQ:RLAY)‘s stock had its “market outperform” rating reissued by analysts at JMP Securities in a report released on Thursday,Benzinga reports. They currently have a $21.00 price objective on the stock. JMP Securities’ price objective would indicate a potential upside of 345.86% from the company’s current price.

Several other equities analysts have also issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $28.00 price target on shares of Relay Therapeutics in a report on Monday, September 16th. Leerink Partners decreased their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. HC Wainwright dropped their price target 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. JPMorgan Chase & Co. cut their price objective on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Finally, Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.60 to $16.00 in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Relay Therapeutics Trading Down 1.5 %

NASDAQ:RLAY opened at $4.71 on Thursday. Relay Therapeutics has a 1-year low of $4.25 and a 1-year high of $12.14. The firm has a market capitalization of $788.37 million, a price-to-earnings ratio of -1.80 and a beta of 1.59. The business’s 50-day moving average price is $5.59 and its two-hundred day moving average price is $6.69.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. The business’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.54) earnings per share. Sell-side analysts predict that Relay Therapeutics will post -2.56 earnings per share for the current year.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the sale, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at $1,856,729.46. The trade was a 2.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 4.32% of the stock is currently owned by insiders.

Institutional Trading of Relay Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Exome Asset Management LLC bought a new position in Relay Therapeutics in the third quarter valued at approximately $2,936,000. Franklin Resources Inc. boosted its holdings in shares of Relay Therapeutics by 3,883.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock valued at $9,429,000 after buying an additional 1,361,779 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Relay Therapeutics in the third quarter valued at $333,000. Barclays PLC increased its holdings in Relay Therapeutics by 118.4% during the third quarter. Barclays PLC now owns 251,819 shares of the company’s stock worth $1,783,000 after buying an additional 136,541 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Relay Therapeutics by 15.5% during the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock worth $19,348,000 after acquiring an additional 367,473 shares in the last quarter. 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.