Brokerages Set Relay Therapeutics, Inc. (NASDAQ:RLAY) Price Target at $17.67

Relay Therapeutics, Inc. (NASDAQ:RLAY) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $17.67.

Several brokerages recently issued reports on RLAY. 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 research report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a report on Friday, March 7th. Wells Fargo & Company assumed coverage on shares of Relay Therapeutics in a report on Thursday, April 17th. They issued an “equal weight” rating and a $4.00 price target for the company. Guggenheim reduced their price target on shares of 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 reduced 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 note on Thursday, February 27th.

Insider Transactions at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 12,943 shares of the 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 completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Peter Rahmer sold 10,739 shares of the stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total transaction of $32,217.00. Following the completion of the sale, the insider now owns 390,081 shares of the company’s stock, valued at approximately $1,170,243. This represents a 2.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,320 shares of company stock worth $280,981 in the last three months. Insiders own 4.87% of the company’s stock.

Institutional Trading of Relay Therapeutics

A number of large investors have recently added to or reduced their stakes in RLAY. Raymond James Financial Inc. acquired a new stake in Relay Therapeutics in the 4th quarter valued at about $779,000. Teacher Retirement System of Texas lifted its position in shares of Relay Therapeutics by 19.5% in the fourth quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company’s stock valued at $139,000 after buying an additional 5,492 shares during the last quarter. Norges Bank acquired a new stake in shares of Relay Therapeutics in the fourth quarter valued at approximately $23,821,000. Nuveen Asset Management LLC lifted its position in shares of Relay Therapeutics by 137.5% in the fourth quarter. Nuveen Asset Management LLC now owns 653,428 shares of the company’s stock valued at $2,692,000 after buying an additional 378,322 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Relay Therapeutics by 8.6% during the 4th quarter. Rhumbline Advisers now owns 171,444 shares of the company’s stock valued at $706,000 after purchasing an additional 13,532 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Stock Up 1.6%

Shares of RLAY stock opened at $3.27 on Tuesday. Relay Therapeutics has a 12-month low of $1.78 and a 12-month high of $10.72. The firm has a market capitalization of $560.63 million, a price-to-earnings ratio of -1.25 and a beta of 1.59. The firm has a fifty day moving average of $2.99 and a 200-day moving average of $3.60.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Monday, May 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. The business had revenue of $7.68 million during the quarter, compared to analyst estimates of $0.01 million. During the same period in the previous year, the firm posted ($0.62) earnings per share. The firm’s revenue was down 23.0% on a year-over-year basis. Research analysts expect that Relay Therapeutics will post -2.55 earnings per share for the current 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.