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 given a consensus recommendation of "Moderate Buy" by the eleven ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $18.36.

Several equities research analysts have recently commented on RLAY shares. The Goldman Sachs Group reduced their target price on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. HC Wainwright reaffirmed a "buy" rating and issued a $16.00 target price on shares of Relay Therapeutics in a research note on Friday, March 7th. Wells Fargo & Company assumed coverage on shares of Relay Therapeutics in a research report on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 price objective for the company. Finally, Stifel Nicolaus cut their price target on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th.

Relay Therapeutics Stock Performance

Shares of RLAY traded up $0.18 during trading hours on Monday, reaching $3.11. 2,575,812 shares of the company traded hands, compared to its average volume of 1,974,198. Relay Therapeutics has a 1-year low of $1.78 and a 1-year high of $10.72. The stock has a market cap of $526.37 million, a P/E ratio of -1.19 and a beta of 1.70. The stock's fifty day moving average is $3.07 and its 200 day moving average is $4.36.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its earnings results 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. On average, equities research analysts predict that Relay Therapeutics will post -2.55 EPS for the current year.

Insider Activity at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 140,182 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $539,700.70. Following the sale, the chief executive officer now owns 625,948 shares of the company's stock, valued at $2,409,899.80. The trade was a 18.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Peter Rahmer sold 17,250 shares of Relay Therapeutics stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $4.42, for a total transaction of $76,245.00. Following the completion of the sale, the insider now owns 402,431 shares in the company, valued at $1,778,745.02. The trade was a 4.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 296,418 shares of company stock valued at $1,175,793. 4.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Relay Therapeutics

A number of institutional investors have recently bought and sold shares of the business. Martingale Asset Management L P boosted its holdings in shares of Relay Therapeutics by 3.5% during the 4th quarter. Martingale Asset Management L P now owns 80,371 shares of the company's stock worth $331,000 after buying an additional 2,700 shares during the period. Virtus ETF Advisers LLC lifted its position in Relay Therapeutics by 26.2% during the fourth quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company's stock worth $61,000 after acquiring an additional 3,092 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Relay Therapeutics by 1.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 218,872 shares of the company's stock worth $902,000 after acquiring an additional 3,325 shares during the period. Summit Investment Advisors Inc. grew its position in shares of Relay Therapeutics by 41.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company's stock valued at $52,000 after purchasing an additional 3,760 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company's stock worth $27,000 after purchasing an additional 4,000 shares during the period. Institutional investors and hedge funds 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.