Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives $20.50 Consensus Target Price from Analysts

Relay Therapeutics, Inc. (NASDAQ:RLAY) has received an average rating of “Moderate Buy” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $20.50.

Several research firms have recently weighed in on RLAY. Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 target price on shares of Relay Therapeutics in a report on Monday, September 16th. Oppenheimer lowered shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group raised shares of Relay Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the company from $10.60 to $16.00 in a research report on Tuesday, September 10th. Leerink Partners decreased their price target on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Finally, HC Wainwright lowered their price objective on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th.

Insider Activity

In other news, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the sale, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at $1,856,729.46. This represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjiv Patel sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $5.00, for a total value of $500,000.00. Following the completion of the transaction, the chief executive officer now directly owns 574,548 shares in the company, valued at approximately $2,872,740. The trade was a 14.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 108,423 shares of company stock valued at $551,043. Company insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new stake in Relay Therapeutics during the 2nd quarter worth $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Relay Therapeutics in the 3rd quarter valued at about $63,000. Portland Investment Counsel Inc. bought a new position in shares of Relay Therapeutics during the third quarter worth approximately $71,000. Values First Advisors Inc. bought a new position in Relay Therapeutics during the third quarter worth about $75,000. Finally, Point72 DIFC Ltd acquired a new position in Relay Therapeutics in the 3rd quarter valued at $134,000. 96.98% of the stock is owned by institutional investors.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $4.26 on Tuesday. The business has a fifty day moving average of $5.43 and a 200 day moving average of $6.64. The firm has a market capitalization of $713.05 million, a price-to-earnings ratio of -1.63 and a beta of 1.59. Relay Therapeutics has a 1 year low of $4.11 and a 1 year high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.14. The firm’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.54) earnings per share. As a group, equities research analysts expect that Relay Therapeutics will post -2.55 earnings per share 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.