Relay Therapeutics, Inc. (NASDAQ:RLAY) Given Consensus Recommendation of "Moderate Buy" by Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twelve ratings firms that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $17.67.

RLAY has been the topic of a number of research analyst reports. Wells Fargo & Company started coverage on Relay Therapeutics in a research note on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 target price on the stock. HC Wainwright reiterated a "buy" rating and issued a $16.00 price target on shares of Relay Therapeutics in a research note on Friday, March 7th. The Goldman Sachs Group lowered their price objective on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Guggenheim cut their target price on shares of Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus lowered their target price on shares of Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th.

Insider Activity at Relay Therapeutics

In other news, insider Peter Rahmer sold 10,739 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total value of $32,217.00. Following the completion of the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 12,943 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, April 30th. The shares were 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 directly owns 355,376 shares in the company, valued at $1,066,128. This represents a 3.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 94,320 shares of company stock valued at $280,981 over the last ninety days. Insiders own 4.32% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC raised its position in Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company's stock worth $27,000 after acquiring an additional 4,000 shares during the last quarter. DRW Securities LLC acquired a new position in Relay Therapeutics during the first quarter valued at approximately $28,000. AssuredPartners Investment Advisors LLC purchased a new stake in shares of Relay Therapeutics in the first quarter worth about $29,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Relay Therapeutics during the 1st quarter valued at $41,000. Finally, Stifel Financial Corp bought a new stake in shares of Relay Therapeutics in the fourth quarter worth $42,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Relay Therapeutics Stock Performance

Shares of Relay Therapeutics stock opened at $2.79 on Friday. The stock has a 50 day moving average price of $2.88 and a two-hundred day moving average price of $3.97. Relay Therapeutics has a 52 week low of $1.78 and a 52 week high of $10.72. The stock has a market capitalization of $478.33 million, a PE ratio of -1.07 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.46) EPS for the quarter, topping 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. During the same period in the prior year, the firm posted ($0.62) EPS. The business's revenue was down 23.0% on a year-over-year basis. Research analysts forecast that Relay Therapeutics will post -2.55 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.

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