Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives $19.80 Average PT from Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $19.80.

RLAY has been the topic of a number of research reports. 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. Leerink Partners dropped their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. 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 report on Thursday, February 27th. HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a report on Tuesday, January 14th. Finally, The Goldman Sachs Group dropped their target price on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 27th.

Insider Buying and Selling

In other Relay Therapeutics news, CEO Sanjiv Patel sold 100,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 574,548 shares of the company’s stock, valued at $2,872,740. This represents a 14.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Rahmer sold 32,156 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $4.15, for a total value of $133,447.40. Following the sale, the insider now directly owns 357,507 shares of the company’s stock, valued at $1,483,654.05. The trade was a 8.25 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 570,152 shares of company stock worth $2,491,157. Insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. boosted its position in Relay Therapeutics by 26.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock worth $7,333,000 after purchasing an additional 214,398 shares during the period. Maven Securities LTD bought a new stake in shares of Relay Therapeutics in the third quarter valued at approximately $2,389,000. Geode Capital Management LLC boosted its position in shares of Relay Therapeutics by 15.5% in the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock valued at $19,348,000 after acquiring an additional 367,473 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Relay Therapeutics by 39.2% in the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after acquiring an additional 1,554,115 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Relay Therapeutics by 3,883.8% in the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock valued at $9,429,000 after acquiring an additional 1,361,779 shares during the period. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Trading Up 2.7 %

NASDAQ RLAY opened at $3.48 on Friday. The stock’s 50-day moving average price is $4.21 and its two-hundred day moving average price is $5.43. The company has a market cap of $589.94 million, a PE ratio of -1.33 and a beta of 1.65. Relay Therapeutics has a 1 year low of $3.02 and a 1 year high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) 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. Research analysts forecast that Relay Therapeutics will post -2.55 EPS for the current fiscal 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.