Relay Therapeutics (NASDAQ:RLAY) Trading 6.1% Higher – Should You Buy?

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares were up 6.1% during trading on Thursday . The company traded as high as $3.01 and last traded at $3.04. Approximately 951,107 shares traded hands during trading, a decline of 48% from the average daily volume of 1,825,662 shares. The stock had previously closed at $2.86.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Stifel Nicolaus dropped their target price on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research report on Thursday, December 12th. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a research report on Friday, March 7th. Leerink Partners reduced their price objective on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group lowered their target price on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.80.

Relay Therapeutics Trading Up 4.9 %

The firm has a 50-day moving average price of $3.90 and a 200-day moving average price of $5.07. The company has a market capitalization of $508.74 million, a price-to-earnings ratio of -1.15 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.12. Equities research analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Peter Rahmer sold 32,156 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $4.15, for a total transaction of $133,447.40. Following the completion of the sale, the insider now owns 357,507 shares in the company, valued at approximately $1,483,654.05. This represents a 8.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 36,036 shares of Relay Therapeutics stock in a transaction 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 owns 263,190 shares in the company, valued at $1,218,569.70. The trade was a 12.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 470,152 shares of company stock worth $1,991,157. Corporate insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors have recently modified their holdings of RLAY. Steward Partners Investment Advisory LLC grew its holdings 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 valued at $27,000 after purchasing an additional 4,000 shares during the last quarter. Stifel Financial Corp acquired a new position in Relay Therapeutics during the 4th quarter worth $42,000. Twinbeech Capital LP bought a new stake in Relay Therapeutics during the fourth quarter valued at about $42,000. Cibc World Markets Corp acquired a new stake in shares of Relay Therapeutics in the fourth quarter valued at about $47,000. Finally, Summit Investment Advisors Inc. increased its stake in shares of Relay Therapeutics by 41.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company’s stock worth $52,000 after purchasing an additional 3,760 shares during the period. Institutional investors and hedge funds 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.