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

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been given a consensus recommendation of “Moderate Buy” by the eleven research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $20.50.

Several analysts recently issued reports on RLAY shares. Bank of America upped their price objective on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. 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. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and lifted their price target for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. Finally, Oppenheimer cut Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th.

Relay Therapeutics Price Performance

NASDAQ RLAY opened at $4.16 on Tuesday. Relay Therapeutics has a fifty-two week low of $4.11 and a fifty-two week high of $12.14. The stock’s 50-day moving average is $5.38 and its two-hundred day moving average is $6.62. The firm has a market cap of $696.31 million, a P/E ratio of -1.59 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data 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% on a year-over-year basis. During the same period in the prior year, the company earned ($0.54) earnings per share. On average, equities analysts expect that Relay Therapeutics will post -2.55 EPS for the current year.

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 stock was sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the transaction, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at approximately $1,856,729.46. This represents a 2.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjiv Patel sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $5.00, for a total value of $500,000.00. Following the completion of the sale, the chief executive officer now directly owns 574,548 shares in the company, valued at approximately $2,872,740. This represents a 14.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,423 shares of company stock worth $551,043. 4.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Relay Therapeutics

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

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.