Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives $19.80 Average PT from Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) have earned an average recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $19.80.

A number of brokerages recently issued reports on RLAY. The Goldman Sachs Group cut their price objective on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and set a $16.00 price objective on shares of Relay Therapeutics in a report on Friday, March 7th. Stifel Nicolaus dropped their target price on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 price objective on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, Leerink Partners cut their price target 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.

Relay Therapeutics Price Performance

NASDAQ:RLAY traded down $0.27 during midday trading on Thursday, hitting $2.72. The company's stock had a trading volume of 2,928,427 shares, compared to its average volume of 1,863,821. The firm has a market cap of $461.10 million, a P/E ratio of -1.04 and a beta of 1.65. Relay Therapeutics has a fifty-two week low of $2.69 and a fifty-two week high of $10.72. The firm's 50 day moving average is $3.84 and its 200-day moving average is $4.96.

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Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.57) by $0.12. As a group, analysts forecast that Relay Therapeutics will post -2.55 EPS for the current year.

Insider Transactions at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 20,791 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $4.42, for a total transaction of $91,896.22. Following the completion of the transaction, the chief financial officer now directly owns 379,431 shares in the company, valued at approximately $1,677,085.02. This represents a 5.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjiv Patel sold 140,182 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total transaction of $539,700.70. Following the sale, the chief executive officer now directly owns 625,948 shares of the company's stock, valued at $2,409,899.80. The trade was a 18.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 464,988 shares of company stock worth $1,968,344 in the last ninety days. Insiders own 4.32% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RLAY. Thrivent Financial for Lutherans raised its stake in shares of Relay Therapeutics by 33.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 160,458 shares of the company's stock valued at $1,137,000 after purchasing an additional 40,447 shares in the last quarter. Intech Investment Management LLC bought a new stake in Relay Therapeutics in the third quarter valued at about $256,000. Charles Schwab Investment Management Inc. raised its stake in Relay Therapeutics by 26.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company's stock valued at $7,333,000 after buying an additional 214,398 shares in the last quarter. FMR LLC lifted its holdings in Relay Therapeutics by 27.4% during the 3rd quarter. FMR LLC now owns 89,772 shares of the company's stock worth $636,000 after buying an additional 19,296 shares during the last quarter. Finally, Ally Bridge Group NY LLC acquired a new position in shares of Relay Therapeutics in the 3rd quarter worth approximately $4,432,000. 96.98% of the stock is currently owned by 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.