Relay Therapeutics, Inc. (NASDAQ:RLAY) Given Average Rating of "Moderate Buy" by Brokerages

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $20.50.

RLAY has been the subject of several analyst reports. Jefferies Financial Group upgraded Relay Therapeutics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $10.60 to $16.00 in a report on Tuesday, September 10th. Leerink Partners decreased their price objective on shares of Relay Therapeutics from $19.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, December 4th. Bank of America raised their target price on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Stifel Nicolaus restated a "buy" rating and set a $28.00 price target on shares of Relay Therapeutics in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their price objective on Relay Therapeutics from $23.00 to $21.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 10th.

Relay Therapeutics Stock Performance

Shares of Relay Therapeutics stock traded down $0.34 during midday trading on Tuesday, reaching $4.50. 1,726,174 shares of the company's stock traded hands, compared to its average volume of 1,545,264. Relay Therapeutics has a 52 week low of $4.25 and a 52 week high of $12.14. The company's 50 day simple moving average is $5.56 and its 200 day simple moving average is $6.69. The company has a market cap of $753.22 million, a price-to-earnings ratio of -1.72 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.14. Relay Therapeutics's revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.54) EPS. As a group, equities research analysts predict that Relay Therapeutics will post -2.55 earnings per share for the current year.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction on Monday, October 28th. The shares were 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 owns 306,391 shares in the company, 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 can be accessed through the SEC website. Insiders own 4.32% of the company's stock.

Institutional Trading of Relay Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in Relay Therapeutics by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 354,667 shares of the company's stock valued at $2,312,000 after purchasing an additional 48,219 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Relay Therapeutics by 304.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 38,656 shares of the company's stock valued at $252,000 after buying an additional 29,087 shares in the last quarter. Rhumbline Advisers boosted its stake in Relay Therapeutics by 4.8% in the 2nd quarter. Rhumbline Advisers now owns 163,895 shares of the company's stock valued at $1,069,000 after buying an additional 7,508 shares in the last quarter. Victory Capital Management Inc. grew its position in Relay Therapeutics by 11.2% in the second quarter. Victory Capital Management Inc. now owns 76,539 shares of the company's stock valued at $499,000 after acquiring an additional 7,680 shares during the period. Finally, Candriam S.C.A. raised its stake in Relay Therapeutics by 38.4% during the second quarter. Candriam S.C.A. now owns 703,429 shares of the company's stock worth $4,586,000 after acquiring an additional 195,000 shares in the last quarter. Institutional investors 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.