Analysts Set Relay Therapeutics, Inc. (NASDAQ:RLAY) PT at $21.67

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been given a consensus recommendation of “Buy” by the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $21.67.

RLAY has been the topic of a number of recent research reports. JMP Securities dropped 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. Barclays lowered their price target on shares of Relay Therapeutics from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. HC Wainwright reduced their price objective on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. JPMorgan Chase & Co. dropped their price target on Relay Therapeutics from $29.00 to $23.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Oppenheimer dropped their price objective on shares of Relay Therapeutics from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 36,706 shares of the firm’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 directly owns 766,130 shares in the company, valued at $6,948,799.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Relay Therapeutics news, CEO Sanjiv Patel sold 36,706 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $9.07, for a total value of $332,923.42. Following the completion of the transaction, the chief executive officer now owns 766,130 shares in the company, valued at $6,948,799.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Peter Rahmer sold 13,708 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $8.19, for a total transaction of $112,268.52. Following the sale, the insider now owns 391,929 shares in the company, valued at approximately $3,209,898.51. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 125,052 shares of company stock valued at $988,396. 4.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Relay Therapeutics

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new position in Relay Therapeutics in the fourth quarter worth about $33,789,000. BVF Inc. IL lifted its position in Relay Therapeutics by 67.8% in the 4th quarter. BVF Inc. IL now owns 3,970,045 shares of the company’s stock valued at $43,710,000 after acquiring an additional 1,604,240 shares in the last quarter. Logos Global Management LP purchased a new stake in Relay Therapeutics during the 2nd quarter valued at $8,476,000. Vanguard Group Inc. increased its holdings in shares of Relay Therapeutics by 10.9% in the 1st quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock worth $98,070,000 after purchasing an additional 1,165,282 shares in the last quarter. Finally, Bellevue Group AG raised its stake in shares of Relay Therapeutics by 21.5% in the fourth quarter. Bellevue Group AG now owns 5,936,082 shares of the company’s stock worth $65,356,000 after purchasing an additional 1,051,082 shares during the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Relay Therapeutics Trading Up 0.3 %

Shares of RLAY stock opened at $7.25 on Wednesday. The firm’s 50 day moving average is $7.39 and its 200 day moving average is $7.71. The stock has a market capitalization of $970.70 million, a P/E ratio of -2.75 and a beta of 1.66. Relay Therapeutics has a 12 month low of $5.70 and a 12 month high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same period in the previous year, the company posted ($0.81) EPS. On average, equities analysts predict that Relay Therapeutics will post -2.91 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.