Relay Therapeutics (NASDAQ:RLAY) Price Target Increased to $19.00 by Analysts at HC Wainwright

Relay Therapeutics (NASDAQ:RLAY) had its price target lifted by HC Wainwright from $18.00 to $19.00 in a research report sent to investors on Monday morning, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Relay Therapeutics’ Q3 2024 earnings at ($0.70) EPS, Q4 2024 earnings at ($0.63) EPS, FY2024 earnings at ($2.65) EPS, Q1 2025 earnings at ($0.64) EPS, Q2 2025 earnings at ($0.65) EPS, Q3 2025 earnings at ($0.66) EPS, Q4 2025 earnings at ($0.67) EPS and FY2025 earnings at ($2.62) EPS.

Several other brokerages have also issued reports on RLAY. JMP Securities decreased their price target on shares of Relay Therapeutics from $24.00 to $21.00 and set a market outperform rating on the stock in a report on Thursday, July 18th. 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 report on Tuesday, September 10th. Oppenheimer lowered shares of Relay Therapeutics from an outperform rating to a market perform rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. decreased 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. Finally, The Goldman Sachs Group began coverage on shares of Relay Therapeutics in a report on Tuesday, September 10th. They set a buy rating and a $20.00 target price on the stock. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $21.11.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY opened at $7.86 on Monday. The firm has a 50 day moving average of $7.60 and a 200-day moving average of $7.34. Relay Therapeutics has a 12 month low of $5.70 and a 12 month high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.04. During the same quarter in the prior year, the business earned ($0.81) EPS. As a group, equities research analysts predict that Relay Therapeutics will post -2.86 earnings per share for the current fiscal year.

Insider Transactions at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 9,373 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $6.24, for a total value of $58,487.52. Following the transaction, the chief financial officer now owns 330,430 shares in the company, valued at approximately $2,061,883.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sanjiv Patel sold 36,706 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $9.07, for a total value of $332,923.42. Following the transaction, the chief executive officer now owns 766,130 shares in the company, valued at approximately $6,948,799.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Catinazzo sold 9,373 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $6.24, for a total transaction of $58,487.52. Following the completion of the transaction, the chief financial officer now owns 330,430 shares in the company, valued at approximately $2,061,883.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,738 shares of company stock worth $715,499. Company insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. American International Group Inc. lifted its position in shares of Relay Therapeutics by 4.0% during the 1st quarter. American International Group Inc. now owns 46,686 shares of the company’s stock valued at $387,000 after acquiring an additional 1,810 shares during the period. Congress Asset Management Co. MA lifted its position in shares of Relay Therapeutics by 1.4% during the 1st quarter. Congress Asset Management Co. MA now owns 149,082 shares of the company’s stock valued at $1,237,000 after acquiring an additional 2,108 shares during the period. Los Angeles Capital Management LLC lifted its position in shares of Relay Therapeutics by 25.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock valued at $116,000 after acquiring an additional 2,850 shares during the period. ProShare Advisors LLC lifted its position in shares of Relay Therapeutics by 14.9% during the 1st quarter. ProShare Advisors LLC now owns 26,214 shares of the company’s stock valued at $218,000 after acquiring an additional 3,394 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Relay Therapeutics by 7.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,917 shares of the company’s stock valued at $456,000 after acquiring an additional 3,684 shares during the period. 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.