Relay Therapeutics (NASDAQ:RLAY) Rating Reiterated by Stifel Nicolaus

Relay Therapeutics (NASDAQ:RLAY)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a report issued on Monday, Benzinga reports. They presently have a $28.00 target price on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 250.00% from the company’s previous close.

A number of other analysts have also recently commented on RLAY. HC Wainwright boosted their price objective on Relay Therapeutics from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Monday. Bank of America increased their price objective on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. JPMorgan Chase & Co. cut their target price on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. Jefferies Financial Group raised shares of Relay Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the company from $10.60 to $16.00 in a research note on Tuesday, September 10th. Finally, JMP Securities lowered their price objective on Relay Therapeutics from $24.00 to $21.00 and set a “market outperform” rating on the stock in a report on Thursday, July 18th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $21.11.

Relay Therapeutics Price Performance

RLAY opened at $8.00 on Monday. The firm has a fifty day moving average price of $7.54 and a 200 day moving average price of $7.37. Relay Therapeutics has a 1 year low of $5.70 and a 1 year high of $12.14. The stock has a market cap of $1.07 billion, a P/E ratio of -3.03 and a beta of 1.64.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same quarter last year, the company posted ($0.81) earnings per share. Equities analysts expect that Relay Therapeutics will post -2.86 EPS for the current year.

Insider Activity

In related news, CFO Thomas Catinazzo sold 9,373 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $6.24, for a total transaction of $58,487.52. Following the transaction, the chief financial officer now owns 330,430 shares in the company, valued at $2,061,883.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Sanjiv Patel sold 36,706 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $9.07, for a total value of $332,923.42. Following the completion of the sale, the chief executive officer now owns 766,130 shares of the company’s stock, valued at $6,948,799.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Catinazzo sold 9,373 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $6.24, for a total transaction of $58,487.52. Following the sale, the chief financial officer now owns 330,430 shares of the company’s stock, valued at $2,061,883.20. The disclosure for this sale can be found here. Insiders sold 84,738 shares of company stock worth $715,499 over the last ninety days. Corporate insiders own 4.32% of the company’s stock.

Institutional Trading of Relay Therapeutics

Hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new position in Relay Therapeutics in the second quarter valued at approximately $37,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Relay Therapeutics in the 1st quarter valued at $79,000. Virtu Financial LLC purchased a new position in shares of Relay Therapeutics during the 1st quarter worth $87,000. Victory Capital Management Inc. acquired a new stake in shares of Relay Therapeutics during the 4th quarter worth about $126,000. Finally, Quest Partners LLC purchased a new stake in Relay Therapeutics in the 4th quarter valued at about $147,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

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.