Relay Therapeutics (NASDAQ:RLAY) Rating Reiterated by Oppenheimer

Relay Therapeutics (NASDAQ:RLAY)‘s stock had its “outperform” rating restated by investment analysts at Oppenheimer in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $25.00 price objective on the stock, down from their previous price objective of $33.00. Oppenheimer’s price target would indicate a potential upside of 270.92% from the company’s current price.

RLAY has been the topic of a number of other research reports. Stifel Nicolaus raised their target price on shares of Relay Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Leerink Partnrs reissued an “outperform” rating on shares of Relay Therapeutics in a research note on Thursday, February 22nd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $24.00.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY opened at $6.74 on Monday. Relay Therapeutics has a 52-week low of $5.70 and a 52-week high of $13.32. The firm has a market capitalization of $894.67 million, a price-to-earnings ratio of -2.55 and a beta of 1.68. The stock has a 50 day moving average price of $7.80 and a 200 day moving average price of $8.80.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share for the quarter, topping the consensus estimate of ($0.70) by $0.08. The business had revenue of $10.01 million during the quarter, compared to analysts’ expectations of $0.12 million. Relay Therapeutics had a negative return on equity of 42.66% and a negative net margin of 1,263.49%. The business’s revenue for the quarter was up 4327.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.78) EPS. Analysts forecast that Relay Therapeutics will post -2.84 earnings per share for the current year.

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. New York State Common Retirement Fund grew its holdings in Relay Therapeutics by 3.2% in the fourth quarter. New York State Common Retirement Fund now owns 36,678 shares of the company’s stock worth $404,000 after purchasing an additional 1,127 shares during the last quarter. Handelsbanken Fonder AB grew its stake in Relay Therapeutics by 5.7% during the 4th quarter. Handelsbanken Fonder AB now owns 29,500 shares of the company’s stock worth $325,000 after buying an additional 1,600 shares during the last quarter. Swiss National Bank increased its position in Relay Therapeutics by 1.2% during the 3rd quarter. Swiss National Bank now owns 173,800 shares of the company’s stock valued at $1,462,000 after buying an additional 2,000 shares in the last quarter. Congress Asset Management Co. MA raised its stake in Relay Therapeutics by 1.4% in the first quarter. Congress Asset Management Co. MA now owns 149,082 shares of the company’s stock valued at $1,237,000 after buying an additional 2,108 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Relay Therapeutics by 25.7% in the first quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after acquiring an additional 2,850 shares in the last quarter. Hedge funds and other 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.