Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives $20.50 Average Price Target from Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have earned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $20.50.

Several equities research analysts recently issued reports on RLAY shares. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Relay Therapeutics in a report on Tuesday, January 14th. Leerink Partners cut their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. Finally, JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a report on Thursday, December 12th.

Relay Therapeutics Stock Performance

Relay Therapeutics stock opened at $4.22 on Wednesday. Relay Therapeutics has a 52 week low of $3.50 and a 52 week high of $11.16. The stock has a market capitalization of $706.36 million, a P/E ratio of -1.62 and a beta of 1.61. The stock has a fifty day moving average of $4.51 and a 200-day moving average of $5.97.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. Relay Therapeutics’s revenue was down 100.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.54) earnings per share. On average, research analysts forecast that Relay Therapeutics will post -2.55 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Thomas Catinazzo sold 20,791 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $4.42, for a total value of $91,896.22. Following the sale, the chief financial officer now directly owns 379,431 shares of the company’s stock, valued at approximately $1,677,085.02. This represents a 5.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Peter Rahmer sold 16,576 shares of Relay Therapeutics stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.45, for a total transaction of $73,763.20. Following the transaction, the insider now directly owns 308,754 shares of the company’s stock, valued at $1,373,955.30. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 354,646 shares of company stock valued at $1,672,757 over the last 90 days. 4.32% of the stock is owned by insiders.

Institutional Trading of Relay Therapeutics

A number of institutional investors have recently bought and sold shares of RLAY. HighTower Advisors LLC raised its position in shares of Relay Therapeutics by 28.9% in the 4th quarter. HighTower Advisors LLC now owns 199,743 shares of the company’s stock worth $823,000 after acquiring an additional 44,823 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its holdings in Relay Therapeutics by 126.4% in the fourth quarter. Mesirow Financial Investment Management Inc. now owns 32,916 shares of the company’s stock worth $136,000 after purchasing an additional 18,380 shares in the last quarter. E Fund Management Co. Ltd. lifted its stake in Relay Therapeutics by 52.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company’s stock valued at $73,000 after buying an additional 6,104 shares during the period. Candriam S.C.A. boosted its holdings in shares of Relay Therapeutics by 58.2% during the 4th quarter. Candriam S.C.A. now owns 1,729,199 shares of the company’s stock worth $7,124,000 after buying an additional 636,494 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Relay Therapeutics during the 4th quarter worth approximately $779,000. Institutional investors own 96.98% of the company’s stock.

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.