Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives $23.69 Consensus Target Price from Brokerages

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) has earned a consensus rating of "Moderate Buy" from the ten analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $23.69.

A number of research firms recently issued reports on RLAY. Stifel Nicolaus raised their price target on Relay Therapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a research note on Thursday, February 22nd. Leerink Partnrs reissued an "outperform" rating on shares of Relay Therapeutics in a report on Thursday, February 22nd.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RLAY. Bank of New York Mellon Corp boosted its holdings in shares of Relay Therapeutics by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 286,886 shares of the company's stock valued at $8,586,000 after acquiring an additional 5,958 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Relay Therapeutics by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 37,962 shares of the company's stock valued at $1,136,000 after purchasing an additional 13,536 shares in the last quarter. Rhumbline Advisers increased its position in Relay Therapeutics by 7.8% during the 1st quarter. Rhumbline Advisers now owns 75,438 shares of the company's stock worth $2,258,000 after purchasing an additional 5,437 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of Relay Therapeutics by 48.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,494 shares of the company's stock worth $79,000 after buying an additional 819 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Relay Therapeutics in the 1st quarter valued at approximately $1,733,000. Institutional investors and hedge funds own 96.98% of the company's stock.

Relay Therapeutics Trading Up 3.3 %

Shares of NASDAQ RLAY traded up $0.23 during mid-day trading on Thursday, reaching $7.13. The company had a trading volume of 774,135 shares, compared to its average volume of 1,104,843. The firm has a 50 day simple moving average of $8.91 and a two-hundred day simple moving average of $8.99. Relay Therapeutics has a 52-week low of $5.95 and a 52-week high of $18.67. The stock has a market cap of $935.31 million, a P/E ratio of -2.55 and a beta of 1.63.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.09. Relay Therapeutics had a negative net margin of 1,263.49% and a negative return on equity of 42.43%. During the same period in the prior year, the firm earned ($0.56) earnings per share. On average, equities analysts expect that Relay Therapeutics will post -2.84 EPS 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.