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

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) has been given an average rating of "Moderate Buy" by the eleven analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $18.36.

Several research analysts recently commented on the company. The Goldman Sachs Group reduced their price objective on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Wells Fargo & Company initiated coverage on shares of Relay Therapeutics in a research report on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 target price for the company. HC Wainwright reissued a "buy" rating and issued a $16.00 price target on shares of Relay Therapeutics in a research note on Friday, March 7th. Finally, Stifel Nicolaus dropped their price objective 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 Activity

In related news, CFO Thomas Catinazzo sold 36,036 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $4.63, for a total value of $166,846.68. Following the completion of the transaction, the chief financial officer now directly owns 263,190 shares in the company, valued at approximately $1,218,569.70. This represents a 12.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Peter Rahmer sold 17,250 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $4.42, for a total value of $76,245.00. Following the sale, the insider now directly owns 402,431 shares of the company's stock, valued at approximately $1,778,745.02. This trade represents a 4.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 357,840 shares of company stock valued at $1,358,217 in the last 90 days. Company insiders own 4.32% of the company's stock.

Institutional Trading of Relay Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC increased its position in shares of Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company's stock valued at $27,000 after acquiring an additional 4,000 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of Relay Therapeutics during the 4th quarter worth approximately $42,000. Twinbeech Capital LP acquired a new stake in Relay Therapeutics in the 4th quarter valued at approximately $42,000. AssuredPartners Investment Advisors LLC acquired a new stake in Relay Therapeutics in the 1st quarter valued at approximately $29,000. Finally, Cibc World Markets Corp purchased a new stake in Relay Therapeutics in the fourth quarter valued at approximately $47,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Relay Therapeutics Stock Down 0.8 %

Shares of NASDAQ RLAY traded down $0.03 during trading on Monday, hitting $3.17. The company had a trading volume of 415,625 shares, compared to its average volume of 1,973,568. The firm has a market capitalization of $536.54 million, a price-to-earnings ratio of -1.21 and a beta of 1.70. The stock has a fifty day simple moving average of $3.04 and a two-hundred day simple moving average of $4.33. Relay Therapeutics has a fifty-two week low of $1.78 and a fifty-two week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.12. On average, analysts anticipate 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.