Relay Therapeutics (NASDAQ:RLAY) Trading Up 6.1% - Should You Buy?

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) shot up 6.1% during trading on Thursday . The company traded as high as $3.01 and last traded at $3.04. 951,107 shares changed hands during trading, a decline of 48% from the average session volume of 1,825,662 shares. The stock had previously closed at $2.86.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus cut their price target on shares of Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. HC Wainwright reiterated a "buy" rating and issued a $16.00 target price on shares of Relay Therapeutics in a research note on Friday, March 7th. The Goldman Sachs Group decreased their price target on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 price target on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, Leerink Partners reduced their price objective on Relay Therapeutics from $19.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.80.

Relay Therapeutics Stock Down 3.7 %

The firm has a 50-day simple moving average of $3.84 and a 200-day simple moving average of $4.96. The stock has a market cap of $444.15 million, a PE ratio of -1.00 and a beta of 1.65.

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Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its earnings results on Wednesday, February 26th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.12. On average, 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, insider Peter Rahmer sold 32,156 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $4.15, for a total value of $133,447.40. Following the sale, the insider now owns 357,507 shares of the company's stock, valued at $1,483,654.05. This trade represents a 8.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjiv Patel sold 125,000 shares of the business's stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $4.80, for a total value of $600,000.00. Following the transaction, the chief executive officer now directly owns 324,548 shares of the company's stock, valued at $1,557,830.40. The trade was a 27.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 470,150 shares of company stock valued at $1,983,004. Corporate insiders own 4.32% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RLAY. Vanguard Group Inc. boosted its stake in shares of Relay Therapeutics by 3.9% in the 4th quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company's stock valued at $61,924,000 after purchasing an additional 566,595 shares in the last quarter. Tang Capital Management LLC boosted its position in Relay Therapeutics by 126.1% during the fourth quarter. Tang Capital Management LLC now owns 8,068,058 shares of the company's stock valued at $33,240,000 after buying an additional 4,500,000 shares during the period. Bellevue Group AG grew its stake in shares of Relay Therapeutics by 15.7% during the third quarter. Bellevue Group AG now owns 7,377,184 shares of the company's stock valued at $52,230,000 after buying an additional 1,000,069 shares during the last quarter. Norges Bank bought a new position in shares of Relay Therapeutics during the fourth quarter valued at about $23,821,000. Finally, JPMorgan Chase & Co. increased its holdings 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 period. 96.98% of the stock is owned by hedge funds and other institutional investors.

About Relay Therapeutics

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.