Analysts Set Relay Therapeutics, Inc. (NASDAQ:RLAY) Price Target at $19.80

Relay Therapeutics, Inc. (NASDAQ:RLAY) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $19.80.

A number of research firms have issued reports on RLAY. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a report on Friday. JMP Securities restated a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a report on Thursday, December 12th. The Goldman Sachs Group reduced their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Leerink Partners reduced their price target on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. Finally, Stifel Nicolaus reduced their price target on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 27th.

Insider Buying and Selling

In other Relay Therapeutics news, CEO Sanjiv Patel sold 140,182 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $539,700.70. Following the transaction, the chief executive officer now directly owns 625,948 shares of the company’s stock, valued at approximately $2,409,899.80. This trade represents a 18.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Peter Rahmer sold 32,156 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $4.15, for a total value of $133,447.40. Following the completion of the transaction, the insider now directly owns 357,507 shares in the company, valued at $1,483,654.05. The trade was a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 570,152 shares of company stock worth $2,491,157. 4.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of Relay Therapeutics by 26.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock valued at $7,333,000 after buying an additional 214,398 shares in the last quarter. Maven Securities LTD purchased a new position in shares of Relay Therapeutics during the 3rd quarter valued at about $2,389,000. Geode Capital Management LLC lifted its position in shares of Relay Therapeutics by 15.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock valued at $19,348,000 after buying an additional 367,473 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Relay Therapeutics by 39.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after buying an additional 1,554,115 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Relay Therapeutics by 3,883.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock valued at $9,429,000 after buying an additional 1,361,779 shares in the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Relay Therapeutics Trading Down 0.6 %

RLAY opened at $3.46 on Friday. The stock has a fifty day simple moving average of $4.19 and a two-hundred day simple moving average of $5.39. The company has a market cap of $586.55 million, a price-to-earnings ratio of -1.33 and a beta of 1.65. Relay Therapeutics has a 12-month low of $3.02 and a 12-month 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 analysts’ consensus estimates of ($0.57) by $0.12. On average, analysts predict that Relay Therapeutics will post -2.55 EPS for the current year.

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.