Brokerages Set Relay Therapeutics, Inc. (NASDAQ:RLAY) Price Target at $21.22

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) have earned a consensus rating of "Moderate Buy" from the ten analysts that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $21.22.

A number of brokerages have recently weighed in on RLAY. Stifel Nicolaus restated a "buy" rating and issued a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th. HC Wainwright raised their target price on Relay Therapeutics from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, November 8th. Oppenheimer lowered Relay Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Tuesday, September 10th. Barclays raised their target price on Relay Therapeutics from $14.00 to $17.00 and gave the company an "overweight" rating in a research note on Tuesday, September 10th. Finally, Bank of America raised 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.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the completion of the transaction, the chief financial officer now owns 306,391 shares of the company's stock, valued at $1,856,729.46. This represents a 2.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Relay Therapeutics

A number of large investors have recently bought and sold shares of the company. American International Group Inc. boosted its position in Relay Therapeutics by 4.0% during the 1st quarter. American International Group Inc. now owns 46,686 shares of the company's stock worth $387,000 after acquiring an additional 1,810 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Relay Therapeutics by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company's stock worth $292,000 after purchasing an additional 2,547 shares in the last quarter. ProShare Advisors LLC raised its stake 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 worth $218,000 after purchasing an additional 3,394 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of Relay Therapeutics during the 2nd quarter worth approximately $37,000. Finally, Swiss National Bank raised its stake in shares of Relay Therapeutics by 4.5% during the 1st quarter. Swiss National Bank now owns 163,500 shares of the company's stock worth $1,357,000 after purchasing an additional 7,100 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company's stock.

Relay Therapeutics Trading Up 3.4 %

RLAY stock traded up $0.16 during midday trading on Friday, hitting $4.80. The stock had a trading volume of 2,405,130 shares, compared to its average volume of 1,457,401. The firm has a market capitalization of $803.42 million, a price-to-earnings ratio of -1.78 and a beta of 1.67. Relay Therapeutics has a 52 week low of $4.48 and a 52 week high of $12.14. The stock has a 50-day simple moving average of $6.42 and a 200 day simple moving average of $6.93.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.14. During the same period in the prior year, the firm earned ($0.54) earnings per share. The firm's revenue for the quarter was down 100.0% compared to the same quarter last year. On average, equities analysts forecast that Relay Therapeutics will post -2.61 EPS for the current 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.