Relay Therapeutics (NASDAQ:RLAY) Stock Price Up 4.8% – What’s Next?

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares traded up 4.8% during mid-day trading on Wednesday . The company traded as high as $4.88 and last traded at $4.84. 1,385,502 shares were traded during trading, a decline of 3% from the average session volume of 1,432,126 shares. The stock had previously closed at $4.62.

Analyst Upgrades and Downgrades

RLAY has been the topic of a number of recent analyst reports. Stifel Nicolaus restated a “buy” rating and issued a $28.00 price target on shares of Relay Therapeutics in a research report on Monday, September 16th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a report on Thursday, December 12th. HC Wainwright lowered their price objective on Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Finally, Leerink Partners cut their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Relay Therapeutics Price Performance

The stock has a market cap of $744.85 million, a PE ratio of -1.70 and a beta of 1.60. The firm’s 50 day moving average price is $4.81 and its two-hundred day moving average price is $6.32.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.14. Relay Therapeutics’s revenue was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.54) EPS. Analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 100,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $5.00, for a total transaction of $500,000.00. Following the sale, the chief executive officer now directly owns 574,548 shares in the company, valued at approximately $2,872,740. This trade represents a 14.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the completion of the sale, the chief financial officer now owns 306,391 shares of the company’s stock, valued at $1,856,729.46. This represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 162,319 shares of company stock valued at $781,067. Insiders own 4.32% of the company’s stock.

Institutional Trading of Relay Therapeutics

A number of hedge funds have recently bought and sold shares of RLAY. EverSource Wealth Advisors LLC purchased a new position in shares of Relay Therapeutics in the second quarter worth approximately $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Relay Therapeutics during the 3rd quarter worth $63,000. Portland Investment Counsel Inc. bought a new stake in shares of Relay Therapeutics during the 3rd quarter valued at $71,000. Values First Advisors Inc. purchased a new stake in shares of Relay Therapeutics in the 3rd quarter worth $75,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Relay Therapeutics in the 3rd quarter worth $134,000. Hedge funds and other 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.