JMP Securities Reaffirms Market Outperform Rating for Relay Therapeutics (NASDAQ:RLAY)

JMP Securities reaffirmed their market outperform rating on shares of Relay Therapeutics (NASDAQ:RLAY) in a report released on Monday, Benzinga reports. The firm currently has a $24.00 price target on the stock.

A number of other brokerages have also recently commented on RLAY. Stifel Nicolaus lifted their target price on shares of Relay Therapeutics from $25.00 to $30.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. Leerink Partnrs restated an outperform rating on shares of Relay Therapeutics in a report on Thursday, February 22nd. Finally, Oppenheimer reaffirmed an outperform rating and issued a $25.00 price target (down from $33.00) on shares of Relay Therapeutics in a research note on Monday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $24.00.

Relay Therapeutics Price Performance

RLAY stock opened at $6.51 on Monday. The firm has a 50 day simple moving average of $7.73 and a two-hundred day simple moving average of $8.80. The stock has a market cap of $864.14 million, a PE ratio of -2.47 and a beta of 1.68. Relay Therapeutics has a one year low of $5.70 and a one year high of $13.32.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.08. The company had revenue of $10.01 million during the quarter, compared to analyst estimates of $0.12 million. Relay Therapeutics had a negative net margin of 1,263.49% and a negative return on equity of 42.66%. The firm’s quarterly revenue was up 4327.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.78) earnings per share. On average, research analysts expect that Relay Therapeutics will post -2.84 EPS for the current fiscal year.

Institutional Trading of Relay Therapeutics

Large investors have recently modified their holdings of the business. Algert Global LLC grew its position in shares of Relay Therapeutics by 61.6% in the 3rd quarter. Algert Global LLC now owns 200,823 shares of the company’s stock worth $1,689,000 after buying an additional 76,573 shares during the last quarter. Trexquant Investment LP boosted its holdings in Relay Therapeutics by 926.5% in the third quarter. Trexquant Investment LP now owns 198,671 shares of the company’s stock valued at $1,671,000 after acquiring an additional 179,317 shares in the last quarter. Swiss National Bank boosted its holdings in Relay Therapeutics by 1.2% in the third quarter. Swiss National Bank now owns 173,800 shares of the company’s stock valued at $1,462,000 after acquiring an additional 2,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Relay Therapeutics by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 714,805 shares of the company’s stock valued at $6,012,000 after purchasing an additional 42,411 shares during the period. Finally, Deutsche Bank AG raised its holdings in Relay Therapeutics by 13.4% in the 3rd quarter. Deutsche Bank AG now owns 51,779 shares of the company’s stock worth $435,000 after purchasing an additional 6,119 shares in the last quarter. 96.98% of the stock is owned by institutional investors.

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.