Relay Therapeutics (NASDAQ:RLAY) Price Target Lowered to $23.00 at Stifel Nicolaus

Relay Therapeutics (NASDAQ:RLAY - Free Report) had its price objective decreased by Stifel Nicolaus from $27.00 to $23.00 in a report issued on Thursday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Several other brokerages have also commented on RLAY. Leerink Partners dropped their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 4th. JMP Securities reissued a "market outperform" rating and set a $21.00 target price on shares of Relay Therapeutics in a research report on Thursday, December 12th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $16.00 price target on shares of Relay Therapeutics in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.80.

Relay Therapeutics Trading Down 6.2 %

RLAY stock traded down $0.21 during mid-day trading on Thursday, hitting $3.20. The stock had a trading volume of 3,071,859 shares, compared to its average volume of 2,225,476. Relay Therapeutics has a 1-year low of $3.02 and a 1-year high of $10.72. The company has a fifty day moving average of $4.29 and a 200 day moving average of $5.51. The stock has a market capitalization of $535.63 million, a price-to-earnings ratio of -1.23 and a beta of 1.61.

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

Insider Activity

In other Relay Therapeutics news, CEO Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock in a transaction dated Monday, December 16th. The stock was 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 in the company, valued at approximately $2,872,740. The trade was a 14.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter Rahmer sold 16,576 shares of the business's stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.45, for a total value of $73,763.20. Following the completion of the transaction, the insider now directly owns 308,754 shares of the company's stock, valued at approximately $1,373,955.30. The trade was a 5.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 570,152 shares of company stock valued at $2,491,157 in the last quarter. Company insiders own 4.32% of the company's stock.

Institutional Trading of Relay Therapeutics

Several hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Relay Therapeutics by 4.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 232,582 shares of the company's stock valued at $958,000 after buying an additional 9,293 shares during the period. Squarepoint Ops LLC lifted its position in Relay Therapeutics by 535.9% in the 4th quarter. Squarepoint Ops LLC now owns 162,588 shares of the company's stock valued at $670,000 after acquiring an additional 137,020 shares in the last quarter. Twinbeech Capital LP acquired a new position in Relay Therapeutics in the 4th quarter worth $42,000. Two Sigma Advisers LP increased its holdings in Relay Therapeutics by 4.0% during the 4th quarter. Two Sigma Advisers LP now owns 638,900 shares of the company's stock worth $2,632,000 after purchasing an additional 24,700 shares in the last quarter. Finally, Tang Capital Management LLC increased its holdings in Relay Therapeutics by 126.1% during the 4th quarter. Tang Capital Management LLC now owns 8,068,058 shares of the company's stock worth $33,240,000 after purchasing an additional 4,500,000 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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.