Brokerages Set Relay Therapeutics, Inc. (NASDAQ:RLAY) Price Target at $24.00

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) have been assigned a consensus recommendation of "Buy" from the six brokerages that are currently covering the firm, Marketbeat reports. Six equities research analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have issued a report on the stock in the last year is $24.00.

Several equities analysts recently issued reports on RLAY shares. Oppenheimer reissued an "outperform" rating and set a $25.00 price target (down from $33.00) on shares of Relay Therapeutics in a report on Monday. Stifel Nicolaus boosted their target price on Relay Therapeutics from $25.00 to $30.00 and gave the stock a "buy" rating in a report on Thursday, February 22nd. JMP Securities reiterated a "market outperform" rating and issued a $24.00 price objective on shares of Relay Therapeutics in a research report on Monday. Finally, Leerink Partnrs restated an "outperform" rating on shares of Relay Therapeutics in a report on Thursday, February 22nd.

Institutional Trading of Relay Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Relay Therapeutics by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 10,650,387 shares of the company's stock worth $117,261,000 after purchasing an additional 98,025 shares during the period. Bellevue Group AG increased its stake in shares of Relay Therapeutics by 21.5% in the 4th quarter. Bellevue Group AG now owns 5,936,082 shares of the company's stock valued at $65,356,000 after acquiring an additional 1,051,082 shares during the last quarter. BVF Inc. IL raised its position in shares of Relay Therapeutics by 67.8% in the 4th quarter. BVF Inc. IL now owns 3,970,045 shares of the company's stock valued at $43,710,000 after acquiring an additional 1,604,240 shares during the period. Norges Bank bought a new position in Relay Therapeutics during the 4th quarter worth approximately $33,789,000. Finally, Finepoint Capital LP grew its holdings in Relay Therapeutics by 51.3% during the fourth quarter. Finepoint Capital LP now owns 1,317,870 shares of the company's stock valued at $14,510,000 after purchasing an additional 447,000 shares during the period. 96.98% of the stock is owned by institutional investors.

Relay Therapeutics Stock Performance

NASDAQ RLAY traded up $0.02 during trading on Monday, reaching $7.06. 629,416 shares of the company traded hands, compared to its average volume of 1,137,179. Relay Therapeutics has a 1-year low of $5.70 and a 1-year high of $13.32. The company has a market cap of $937.14 million, a price-to-earnings ratio of -2.67 and a beta of 1.68. The stock's 50 day moving average price is $7.80 and its two-hundred day moving average price is $8.80.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.08. The business had revenue of $10.01 million for the quarter, compared to analyst estimates of $0.12 million. Relay Therapeutics had a negative return on equity of 42.66% and a negative net margin of 1,263.49%. Relay Therapeutics's quarterly revenue was up 4327.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.78) EPS. Equities research analysts expect that Relay Therapeutics will post -2.84 EPS for the current fiscal year.

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.