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

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

A number of research analysts recently issued reports on the stock. HC Wainwright restated a "buy" rating and set a $16.00 target price on shares of Relay Therapeutics in a research report on Tuesday, January 14th. JMP Securities restated a "market outperform" rating and set a $21.00 target price on shares of Relay Therapeutics in a research report on Thursday, December 12th. Stifel Nicolaus decreased their price objective on shares of Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. The Goldman Sachs Group decreased their price objective on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, 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 research report on Wednesday, December 4th.

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 75,324 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $3.70, for a total transaction of $278,698.80. Following the completion of the transaction, the chief executive officer now owns 883,089 shares in the company, valued at $3,267,429.30. This represents a 7.86 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Rahmer sold 16,576 shares of the company's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.45, for a total transaction of $73,763.20. Following the transaction, the insider now owns 308,754 shares of the company's stock, valued at approximately $1,373,955.30. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 570,152 shares of company stock worth $2,491,157 in the last 90 days. Insiders own 4.32% of the company's stock.

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Institutional Trading of Relay Therapeutics

Several large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its stake in Relay Therapeutics by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company's stock valued at $292,000 after acquiring an additional 2,547 shares in the last quarter. Martingale Asset Management L P grew its stake in shares of Relay Therapeutics by 3.5% in the 4th quarter. Martingale Asset Management L P now owns 80,371 shares of the company's stock valued at $331,000 after buying an additional 2,700 shares during the period. Virtus ETF Advisers LLC grew its stake in shares of Relay Therapeutics by 26.2% in the 4th quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company's stock valued at $61,000 after buying an additional 3,092 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Relay Therapeutics by 1.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 218,872 shares of the company's stock valued at $902,000 after buying an additional 3,325 shares during the period. Finally, Summit Investment Advisors Inc. grew its stake in shares of Relay Therapeutics by 41.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company's stock valued at $52,000 after buying an additional 3,760 shares during the period. Hedge funds and other institutional investors own 96.98% of the company's stock.

Relay Therapeutics Stock Up 6.3 %

Shares of RLAY traded up $0.20 during trading hours on Friday, reaching $3.39. 2,232,186 shares of the company traded hands, compared to its average volume of 2,235,638. The stock has a market capitalization of $574.68 million, a P/E ratio of -1.30 and a beta of 1.65. Relay Therapeutics has a 12-month low of $3.02 and a 12-month high of $10.72. The business has a fifty day moving average price of $4.23 and a 200-day moving average price of $5.45.

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