Relay Therapeutics (NASDAQ:RLAY) Stock Price Up 5.3%

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) shares traded up 5.3% during trading on Tuesday . The company traded as high as $7.18 and last traded at $7.14. 158,757 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,154,087 shares. The stock had previously closed at $6.78.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Stifel Nicolaus increased their price objective on Relay Therapeutics from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. Oppenheimer restated an "outperform" rating and issued a $25.00 price target (down from $33.00) on shares of Relay Therapeutics in a research report on Monday, May 6th. JMP Securities restated a "market outperform" rating and issued a $24.00 price target on shares of Relay Therapeutics in a research report on Monday, May 6th. Leerink Partnrs restated an "outperform" rating on shares of Relay Therapeutics in a research report on Thursday, February 22nd. Finally, Barclays raised Relay Therapeutics from an "equal weight" rating to an "overweight" rating and set a $15.00 price objective on the stock in a research note on Friday, May 10th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $22.20.

Relay Therapeutics Price Performance

The business has a 50-day moving average of $7.09 and a 200-day moving average of $8.81. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of -2.78 and a beta of 1.68.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.70) by $0.08. Relay Therapeutics had a negative return on equity of 42.66% and a negative net margin of 1,263.49%. The business had revenue of $10.01 million for the quarter, compared to the consensus estimate of $0.12 million. During the same quarter in the previous year, the business earned ($0.78) earnings per share. Relay Therapeutics's quarterly revenue was up 4327.9% on a year-over-year basis. As a group, equities analysts anticipate that Relay Therapeutics, Inc. will post -2.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC bought a new stake in shares of Relay Therapeutics during the first quarter worth approximately $87,000. Bayesian Capital Management LP bought a new stake in shares of Relay Therapeutics during the first quarter worth approximately $320,000. American International Group Inc. boosted its holdings in shares of Relay Therapeutics by 4.0% during the first quarter. American International Group Inc. now owns 46,686 shares of the company's stock worth $387,000 after acquiring an additional 1,810 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Relay Therapeutics by 10.9% during the first quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company's stock worth $98,070,000 after acquiring an additional 1,165,282 shares during the period. Finally, ProShare Advisors LLC boosted its holdings in shares of Relay Therapeutics by 14.9% during the first quarter. ProShare Advisors LLC now owns 26,214 shares of the company's stock worth $218,000 after acquiring an additional 3,394 shares during the period. Institutional investors 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.