Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives $17.67 Consensus PT from Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have earned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $17.67.

Several equities analysts have recently weighed in on RLAY shares. Wells Fargo & Company started coverage on Relay Therapeutics in a report on Thursday, April 17th. They issued an “equal weight” rating and a $4.00 price objective for the company. The Goldman Sachs Group decreased their price objective on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 27th. HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a report on Friday, March 7th. Guggenheim decreased their price objective on Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Finally, Stifel Nicolaus decreased their price objective on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 27th.

Insider Buying and Selling

In related news, insider Peter Rahmer sold 10,739 shares of Relay Therapeutics 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 completion of the transaction, the insider now owns 390,081 shares in the company, valued at approximately $1,170,243. This trade represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 12,943 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $38,829.00. Following the sale, the chief financial officer now owns 355,376 shares of the company’s stock, valued at approximately $1,066,128. This represents a 3.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 94,320 shares of company stock worth $280,981. Company insiders own 4.87% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors have recently made changes to their positions in RLAY. SG Americas Securities LLC boosted its holdings in shares of Relay Therapeutics by 40.8% during the fourth quarter. SG Americas Securities LLC now owns 77,557 shares of the company’s stock worth $320,000 after acquiring an additional 22,473 shares during the period. China Universal Asset Management Co. Ltd. raised its position 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 buying 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 valued at approximately $120,000. Rhumbline Advisers raised 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 valued at $706,000 after buying an additional 13,532 shares in the last quarter. Finally, Congress Asset Management Co. raised its position in shares of Relay Therapeutics by 7.6% in 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. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Price Performance

RLAY opened at $3.05 on Friday. The business’s 50-day moving average price is $2.85 and its two-hundred day moving average price is $3.90. Relay Therapeutics has a 1 year low of $1.78 and a 1 year high of $10.72. The company has a market capitalization of $522.91 million, a price-to-earnings ratio of -1.17 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY) last announced 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 company had revenue of $7.68 million during the quarter, compared to the consensus estimate of $0.01 million. Relay Therapeutics’s revenue was down 23.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.62) EPS. Sell-side analysts anticipate that Relay Therapeutics will post -2.55 earnings per share for the current fiscal year.

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.