Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $20.50.
A number of research analysts have recently weighed in on the company. Barclays raised their target price on Relay Therapeutics from $14.00 to $17.00 and gave the company an "overweight" rating in a report on Tuesday, September 10th. Oppenheimer lowered shares of Relay Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Tuesday, September 10th. Jefferies Financial Group raised shares of Relay Therapeutics from a "hold" rating to a "buy" rating and raised their price target for the company from $10.60 to $16.00 in a research report on Tuesday, September 10th. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research report on Thursday, December 12th. Finally, The Goldman Sachs Group started coverage on shares of Relay Therapeutics in a research note on Tuesday, September 10th. They issued a "buy" rating and a $20.00 price objective for the company.
View Our Latest Analysis on RLAY
In other news, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the completion of the transaction, the chief financial officer now owns 306,391 shares in the company, valued at approximately $1,856,729.46. This represents a 2.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.32% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in RLAY. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 buying an additional 2,547 shares in the last quarter. EverSource Wealth Advisors LLC bought a new stake in Relay Therapeutics during the 2nd quarter valued at $37,000. Rhumbline Advisers boosted its holdings in shares of Relay Therapeutics by 4.8% in the second quarter. Rhumbline Advisers now owns 163,895 shares of the company's stock worth $1,069,000 after acquiring an additional 7,508 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Relay Therapeutics by 11.2% in the second quarter. Victory Capital Management Inc. now owns 76,539 shares of the company's stock worth $499,000 after acquiring an additional 7,680 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Relay Therapeutics in the third quarter valued at $63,000. 96.98% of the stock is owned by hedge funds and other institutional investors.
RLAY opened at $4.84 on Tuesday. Relay Therapeutics has a 1-year low of $4.25 and a 1-year high of $12.14. The company has a market cap of $810.12 million, a price-to-earnings ratio of -1.85 and a beta of 1.59. The company's fifty day moving average price is $5.56 and its two-hundred day moving average price is $6.69.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping analysts' consensus estimates of ($0.77) by $0.14. The business's quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.54) earnings per share. As a group, equities analysts forecast that Relay Therapeutics will post -2.55 earnings per share for the current fiscal year.
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.
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