Relay Therapeutics (NASDAQ:RLAY) Price Target Raised to $20.00 at HC Wainwright

Relay Therapeutics (NASDAQ:RLAY) had its price objective upped by equities research analysts at HC Wainwright from $19.00 to $20.00 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s price objective would indicate a potential upside of 229.49% from the company’s previous close.

RLAY has been the topic of a number of other reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 price objective on shares of Relay Therapeutics in a report on Monday, September 16th. JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, September 17th. JPMorgan Chase & Co. reduced their target price on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. Finally, Bank of America lifted their target price on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Relay Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $21.22.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY traded down $0.07 during midday trading on Friday, hitting $6.07. 500,548 shares of the stock were exchanged, compared to its average volume of 1,446,808. The business’s fifty day simple moving average is $6.80 and its two-hundred day simple moving average is $7.00. Relay Therapeutics has a 52-week low of $5.60 and a 52-week high of $12.14. The company has a market capitalization of $812.71 million, a PE ratio of -2.34 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. Relay Therapeutics’s quarterly revenue was down 100.0% on a year-over-year basis. During the same period last year, the business earned ($0.54) earnings per share. As a group, equities analysts anticipate that Relay Therapeutics will post -2.84 EPS for the current year.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the completion of the transaction, the chief financial officer now owns 306,391 shares in the company, valued at approximately $1,856,729.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Relay Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in RLAY. EverSource Wealth Advisors LLC bought a new position in Relay Therapeutics during the second quarter worth about $37,000. Values First Advisors Inc. bought a new stake in Relay Therapeutics in the 3rd quarter valued at $75,000. Allspring Global Investments Holdings LLC acquired a new stake in Relay Therapeutics during the 1st quarter valued at $79,000. Virtu Financial LLC bought a new position in Relay Therapeutics during the first quarter worth $87,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Relay Therapeutics in the first quarter valued at $127,000. 96.98% of the stock is owned by institutional investors.

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.