Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $17.67.

RLAY has been the subject of several analyst reports. HC Wainwright reiterated a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research report on Friday, March 7th. The Goldman Sachs Group decreased their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company started coverage on shares of Relay Therapeutics in a research note on Thursday, April 17th. They set an “equal weight” rating and a $4.00 price objective on the stock. Stifel Nicolaus decreased their target price on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Guggenheim dropped their price target on shares of Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th.

Relay Therapeutics Stock Performance

RLAY stock opened at $2.79 on Friday. Relay Therapeutics has a 1 year low of $1.78 and a 1 year high of $10.72. The stock has a market capitalization of $478.33 million, a price-to-earnings ratio of -1.07 and a beta of 1.65. The stock’s fifty day moving average is $2.88 and its two-hundred day moving average is $3.97.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.04. The firm had revenue of $7.68 million during the quarter, compared to the consensus estimate of $0.01 million. During the same quarter in the prior year, the business earned ($0.62) earnings per share. The company’s revenue for the quarter was down 23.0% compared to the same quarter last year. As a group, analysts predict that Relay Therapeutics will post -2.55 EPS for the current fiscal year.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 10,739 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total transaction of $32,217.00. Following the sale, the insider now owns 390,081 shares in the company, valued at approximately $1,170,243. The trade was a 2.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 61,422 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $2.97, for a total transaction of $182,423.34. Following the sale, the chief executive officer now directly owns 821,667 shares of the company’s stock, valued at $2,440,350.99. This represents a 6.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 94,320 shares of company stock valued at $280,981 in the last quarter. Insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. SG Americas Securities LLC lifted its position in shares of Relay Therapeutics by 40.8% in the 4th quarter. SG Americas Securities LLC now owns 77,557 shares of the company’s stock valued at $320,000 after acquiring an additional 22,473 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Relay Therapeutics by 37.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 35,491 shares of the company’s stock valued at $146,000 after purchasing an additional 9,740 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of Relay Therapeutics in the fourth quarter worth $120,000. Rhumbline Advisers boosted its position in shares of Relay Therapeutics by 8.6% in the fourth quarter. Rhumbline Advisers now owns 171,444 shares of the company’s stock worth $706,000 after buying an additional 13,532 shares during the period. Finally, Congress Asset Management Co. grew its holdings in shares of Relay Therapeutics by 7.6% during the fourth quarter. Congress Asset Management Co. now owns 157,485 shares of the company’s stock valued at $649,000 after buying an additional 11,061 shares in the last quarter. 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.