Relay Therapeutics (NASDAQ:RLAY) Given New $20.00 Price Target at HC Wainwright

Relay Therapeutics (NASDAQ:RLAY - Free Report) had its price target hoisted by HC Wainwright from $19.00 to $20.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently commented on the company. JMP Securities reiterated a "market outperform" rating and set a $21.00 target price on shares of Relay Therapeutics in a research report on Tuesday, September 17th. Barclays boosted their price objective on Relay Therapeutics from $14.00 to $17.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 10th. Jefferies Financial Group upgraded shares of Relay Therapeutics from a "hold" rating to a "buy" rating and raised their target price for the stock from $10.60 to $16.00 in a report on Tuesday, September 10th. Stifel Nicolaus reissued a "buy" rating and issued a $28.00 price objective on shares of Relay Therapeutics in a research report on Monday, September 16th. Finally, Bank of America upped their target price on Relay Therapeutics from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.22.

Relay Therapeutics Stock Up 1.0 %

Shares of Relay Therapeutics stock traded up $0.06 during trading hours on Friday, reaching $6.20. 1,225,076 shares of the stock traded hands, compared to its average volume of 1,450,147. The firm has a market capitalization of $830.12 million, a price-to-earnings ratio of -2.38 and a beta of 1.67. The company has a 50 day moving average price of $6.79 and a 200 day moving average price of $7.00. Relay Therapeutics has a one year low of $5.60 and a one year high of $12.14.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings results 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. During the same quarter in the prior year, the business earned ($0.54) earnings per share. Relay Therapeutics's quarterly revenue was down 100.0% compared to the same quarter last year. Sell-side analysts anticipate that Relay Therapeutics will post -2.84 earnings per share for the current year.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the business's stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the sale, the chief financial officer now owns 306,391 shares of the company's stock, valued at approximately $1,856,729.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Relay Therapeutics

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new position in shares of Relay Therapeutics during the 1st quarter valued at approximately $79,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Relay Therapeutics by 7.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,917 shares of the company's stock valued at $456,000 after purchasing an additional 3,684 shares in the last quarter. Swiss National Bank boosted its stake in shares of Relay Therapeutics by 4.5% in the first quarter. Swiss National Bank now owns 163,500 shares of the company's stock worth $1,357,000 after acquiring an additional 7,100 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Relay Therapeutics in the first quarter valued at about $127,000. Finally, Russell Investments Group Ltd. increased its holdings in shares of Relay Therapeutics by 57.2% in the first quarter. Russell Investments Group Ltd. now owns 179,972 shares of the company's stock valued at $1,494,000 after purchasing an additional 65,484 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other 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.