Relay Therapeutics (NASDAQ:RLAY) Trading Up 4.8% - Should You Buy?

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report)'s stock price was up 4.8% on Wednesday . The stock traded as high as $4.88 and last traded at $4.84. Approximately 1,385,502 shares traded hands during trading, a decline of 3% from the average daily volume of 1,432,126 shares. The stock had previously closed at $4.62.

Wall Street Analyst Weigh In

RLAY has been the topic of a number of research reports. Barclays boosted their target price on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an "overweight" rating in a report on Tuesday, September 10th. Stifel Nicolaus reiterated a "buy" rating and set a $28.00 price objective on shares of Relay Therapeutics in a research report on Monday, September 16th. JMP Securities reissued a "market outperform" rating and set a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. The Goldman Sachs Group assumed coverage on Relay Therapeutics in a research report on Tuesday, September 10th. They set a "buy" rating and a $20.00 target price on the stock. Finally, Jefferies Financial Group raised Relay Therapeutics from a "hold" rating to a "buy" rating and upped their target price for the company from $10.60 to $16.00 in a report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.50.

Relay Therapeutics Stock Performance

The business's 50 day simple moving average is $4.86 and its 200-day simple moving average is $6.35. The company has a market cap of $808.46 million, a price-to-earnings ratio of -1.85 and a beta of 1.60.

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, beating analysts' consensus estimates of ($0.77) by $0.14. Relay Therapeutics's revenue was down 100.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.54) earnings per share. Research analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 100,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $5.00, for a total transaction of $500,000.00. Following the transaction, the chief executive officer now directly owns 574,548 shares of the company's stock, valued at $2,872,740. This represents a 14.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas Catinazzo sold 6,802 shares of the business's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the sale, the chief financial officer now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,319 shares of company stock valued at $781,067. 4.32% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Relay Therapeutics

A number of large investors have recently added to or reduced their stakes in RLAY. JPMorgan Chase & Co. lifted its stake in shares of Relay Therapeutics by 39.2% in the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company's stock worth $39,064,000 after buying an additional 1,554,115 shares during the last quarter. Exome Asset Management LLC bought a new position in Relay Therapeutics in the 3rd quarter worth $2,936,000. Franklin Resources Inc. lifted its position in Relay Therapeutics by 3,883.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company's stock worth $9,429,000 after acquiring an additional 1,361,779 shares during the last quarter. Virtu Financial LLC bought a new stake in Relay Therapeutics during the third quarter valued at about $333,000. Finally, Barclays PLC grew its position in shares of Relay Therapeutics by 118.4% in the third quarter. Barclays PLC now owns 251,819 shares of the company's stock valued at $1,783,000 after purchasing an additional 136,541 shares during 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.