Leerink Partners Has Lowered Expectations for Relay Therapeutics (NASDAQ:RLAY) Stock Price

Relay Therapeutics (NASDAQ:RLAY) had its price objective decreased by research analysts at Leerink Partners from $19.00 to $18.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price objective points to a potential upside of 320.56% from the stock’s previous close.

A number of other equities research analysts also recently commented on RLAY. HC Wainwright lowered their price target on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday. 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 target price for the company. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the stock from $10.60 to $16.00 in a research note on Tuesday, September 10th. Bank of America raised their price objective on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $20.50.

Relay Therapeutics Trading Down 2.5 %

NASDAQ:RLAY opened at $4.28 on Wednesday. The company has a market capitalization of $716.40 million, a P/E ratio of -1.64 and a beta of 1.59. The firm has a 50-day moving average price of $5.84 and a two-hundred day moving average price of $6.79. Relay Therapeutics has a twelve month low of $4.25 and a twelve month high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data 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 company’s revenue for the quarter was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.54) EPS. On average, equities research analysts predict that Relay Therapeutics will post -2.61 earnings per share for the current year.

Insider Transactions at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 6,802 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the completion of the sale, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at approximately $1,856,729.46. This represents a 2.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC acquired a new stake in Relay Therapeutics during the 2nd quarter valued at $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Relay Therapeutics in the 3rd quarter valued at about $63,000. Portland Investment Counsel Inc. acquired a new stake in shares of Relay Therapeutics during the third quarter valued at about $71,000. Values First Advisors Inc. purchased a new stake in shares of Relay Therapeutics during the third quarter worth about $75,000. Finally, Virtu Financial LLC acquired a new position in shares of Relay Therapeutics in the first quarter worth about $87,000. Institutional investors and hedge funds 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.