Brokerages Set Relay Therapeutics, Inc. (NASDAQ:RLAY) Price Target at $21.22

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been given an average recommendation of “Moderate Buy” by the ten ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $21.22.

Several equities analysts recently weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th. Barclays lifted their price objective on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. reduced their price objective on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. The Goldman Sachs Group assumed coverage on shares of Relay Therapeutics in a research report on Tuesday, September 10th. They set a “buy” rating and a $20.00 price objective for the company. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, September 17th.

Relay Therapeutics Stock Up 2.4 %

Shares of RLAY opened at $4.75 on Friday. The stock has a market capitalization of $795.06 million, a P/E ratio of -1.82 and a beta of 1.67. Relay Therapeutics has a twelve month low of $4.48 and a twelve month high of $12.14. The company has a 50 day moving average of $6.36 and a 200-day moving average of $6.92.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same quarter in the prior year, the firm earned ($0.54) earnings per share. Relay Therapeutics’s revenue for the quarter was down 100.0% on a year-over-year basis. On average, sell-side analysts anticipate that Relay Therapeutics will post -2.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Thomas Catinazzo sold 6,802 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the completion of the sale, the chief financial officer now owns 306,391 shares of the company’s stock, valued at $1,856,729.46. This represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RLAY. Vanguard Group Inc. raised its holdings in Relay Therapeutics by 10.9% in the 1st quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock valued at $98,070,000 after buying an additional 1,165,282 shares during the last quarter. Bellevue Group AG raised its holdings in Relay Therapeutics by 15.7% in the 3rd quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock valued at $52,230,000 after buying an additional 1,000,069 shares during the last quarter. State Street Corp raised its holdings in Relay Therapeutics by 1.2% in the 3rd quarter. State Street Corp now owns 4,300,216 shares of the company’s stock valued at $30,446,000 after buying an additional 51,810 shares during the last quarter. Braidwell LP raised its holdings in Relay Therapeutics by 16.4% in the 3rd quarter. Braidwell LP now owns 3,499,427 shares of the company’s stock valued at $24,776,000 after buying an additional 492,628 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in Relay Therapeutics by 15.5% in 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 during the last quarter. 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.