Brokerages Set Relay Therapeutics, Inc. (NASDAQ:RLAY) PT at $21.11

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $21.11.

A number of research firms have recently commented on RLAY. Jefferies Financial Group upgraded Relay Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the stock from $10.60 to $16.00 in a research note on Tuesday, September 10th. Barclays raised their price objective 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. JPMorgan Chase & Co. lowered their price target on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Oppenheimer lowered Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. Finally, Bank of America upped their price target on Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th.

Relay Therapeutics Stock Up 0.6 %

Relay Therapeutics stock opened at $6.53 on Thursday. Relay Therapeutics has a 52 week low of $5.70 and a 52 week high of $12.14. The company’s 50 day moving average price is $7.21 and its two-hundred day moving average price is $7.17. The stock has a market cap of $866.81 million, a P/E ratio of -2.47 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) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the previous year, the company earned ($0.81) EPS. On average, equities analysts anticipate that Relay Therapeutics will post -2.84 EPS for the current year.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 36,706 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was 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 in the company, valued at $6,948,799.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Thomas Catinazzo sold 10,780 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $8.56, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjiv Patel sold 36,706 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was 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 in the company, valued at $6,948,799.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,717 shares of company stock worth $652,955. 4.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC purchased a new stake in shares of Relay Therapeutics during the 2nd quarter valued at $37,000. Allspring Global Investments Holdings LLC purchased a new stake in Relay Therapeutics during the first quarter valued at about $79,000. Virtu Financial LLC bought a new stake in Relay Therapeutics during the first quarter worth about $87,000. Los Angeles Capital Management LLC boosted its holdings in shares of Relay Therapeutics by 25.7% in the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after purchasing an additional 2,850 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Relay Therapeutics in the 1st quarter worth about $127,000. 96.98% of the stock is currently owned by institutional investors.

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.