Relay Therapeutics’ (RLAY) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Relay Therapeutics (NASDAQ:RLAY) in a research report released on Friday morning,Benzinga reports. The brokerage currently has a $16.00 price target on the stock.

RLAY has been the topic of a number of other reports. Stifel Nicolaus dropped their price objective on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Leerink Partners cut their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. Finally, The Goldman Sachs Group cut their price target on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $19.80.

Relay Therapeutics Trading Down 0.6 %

Shares of NASDAQ:RLAY opened at $3.46 on Friday. Relay Therapeutics has a 52 week low of $3.02 and a 52 week high of $10.72. The company’s 50 day moving average is $4.19 and its two-hundred day moving average is $5.41. The company has a market cap of $586.55 million, a PE ratio of -1.33 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. As a group, equities research analysts expect that Relay Therapeutics will post -2.55 EPS for the current year.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock in a transaction on Monday, December 16th. The shares were sold at an average price of $5.00, for a total value of $500,000.00. Following the transaction, the chief executive officer now directly owns 574,548 shares in the company, valued at approximately $2,872,740. The trade was a 14.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Peter Rahmer sold 32,156 shares of Relay Therapeutics stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $4.15, for a total transaction of $133,447.40. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 570,152 shares of company stock worth $2,491,157. 4.32% of the stock is owned by company insiders.

Institutional Trading of Relay Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Relay Therapeutics by 4.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 232,582 shares of the company’s stock valued at $958,000 after acquiring an additional 9,293 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in shares of Relay Therapeutics by 535.9% in the fourth quarter. Squarepoint Ops LLC now owns 162,588 shares of the company’s stock valued at $670,000 after acquiring an additional 137,020 shares in the last quarter. Twinbeech Capital LP purchased a new stake in shares of Relay Therapeutics in the fourth quarter valued at about $42,000. Two Sigma Advisers LP boosted its holdings in shares of Relay Therapeutics by 4.0% in the fourth quarter. Two Sigma Advisers LP now owns 638,900 shares of the company’s stock valued at $2,632,000 after acquiring an additional 24,700 shares in the last quarter. Finally, Tang Capital Management LLC boosted its holdings in shares of Relay Therapeutics by 126.1% in the fourth quarter. Tang Capital Management LLC now owns 8,068,058 shares of the company’s stock valued at $33,240,000 after acquiring an additional 4,500,000 shares in the last quarter. 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.