Analysts Set Relay Therapeutics, Inc. (NASDAQ:RLAY) Target Price at $19.80

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have earned an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $19.80.

RLAY has been the subject of a number of research analyst reports. The Goldman Sachs Group lowered their target price on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. Leerink Partners dropped their price objective on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a research note on Friday, March 7th. Finally, Stifel Nicolaus dropped their target price on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 27th.

Insider Activity

In other Relay Therapeutics news, insider Peter Rahmer sold 16,576 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.45, for a total value of $73,763.20. Following the transaction, the insider now owns 308,754 shares of the company’s stock, valued at approximately $1,373,955.30. This represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Catinazzo sold 20,791 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $4.42, for a total value of $91,896.22. Following the completion of the transaction, the chief financial officer now directly owns 379,431 shares in the company, valued at $1,677,085.02. The trade was a 5.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 464,988 shares of company stock valued at $1,968,344 over the last three months. Insiders own 4.32% of the company’s stock.

Institutional Trading of Relay Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System grew its position in shares of Relay Therapeutics by 28.8% during the 4th quarter. California State Teachers Retirement System now owns 106,287 shares of the company’s stock valued at $438,000 after acquiring an additional 23,760 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Relay Therapeutics by 4.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 232,582 shares of the company’s stock valued at $958,000 after purchasing an additional 9,293 shares in the last quarter. Squarepoint Ops LLC grew its holdings in Relay Therapeutics by 535.9% during the fourth quarter. Squarepoint Ops LLC now owns 162,588 shares of the company’s stock valued at $670,000 after purchasing an additional 137,020 shares during the period. Twinbeech Capital LP purchased a new stake in Relay Therapeutics in the fourth quarter worth about $42,000. Finally, Two Sigma Advisers LP raised its stake in shares of Relay Therapeutics by 4.0% in the fourth quarter. Two Sigma Advisers LP now owns 638,900 shares of the company’s stock worth $2,632,000 after buying an additional 24,700 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.

Relay Therapeutics Trading Down 9.0 %

Shares of NASDAQ RLAY opened at $2.72 on Thursday. The stock has a market cap of $461.10 million, a price-to-earnings ratio of -1.04 and a beta of 1.65. Relay Therapeutics has a 1-year low of $2.69 and a 1-year high of $10.72. The stock’s 50-day moving average is $3.84 and its 200 day moving average is $4.98.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.12. On average, analysts forecast that Relay Therapeutics will post -2.55 EPS for the current fiscal 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.