Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock Has Consensus Target Price of $25.92 According to Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have received a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and two have issued a strong buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $25.92.

A number of research firms have issued reports on RLAY. Guggenheim restated a “buy” rating on shares of Relay Therapeutics in a report on Friday, August 7th. Citizens Jmp boosted their price objective on Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a research report on Monday, August 10th. HC Wainwright increased their target price on Relay Therapeutics from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Canaccord Genuity Group assumed coverage on Relay Therapeutics in a report on Thursday, July 16th. They issued a “buy” rating and a $29.00 target price on the stock. Finally, Barclays lifted their price target on Relay Therapeutics from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th.

Insiders Place Their Bets

In related news, CFO Thomas Catinazzo sold 17,717 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $18.94, for a total transaction of $335,559.98. Following the completion of the transaction, the chief financial officer directly owned 122,851 shares in the company, valued at $2,326,797.94. This represents a 12.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald A. Bergstrom sold 8,530 shares of the stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $18.97, for a total transaction of $161,814.10. Following the completion of the sale, the insider directly owned 399,130 shares of the company’s stock, valued at approximately $7,571,496.10. This trade represents a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 6,131,597 shares of company stock valued at $118,926,998 in the last 90 days. 5.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC raised its position in shares of Relay Therapeutics by 14.7% during the second quarter. Tidal Investments LLC now owns 176,782 shares of the company’s stock valued at $3,308,000 after buying an additional 22,682 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Relay Therapeutics during the second quarter valued at about $74,000. Allianz Asset Management GmbH bought a new position in Relay Therapeutics during the second quarter valued at about $750,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Relay Therapeutics in the 2nd quarter valued at approximately $784,000. Finally, Frazier Life Sciences Management L.P. acquired a new position in Relay Therapeutics in the 2nd quarter valued at approximately $19,004,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $18.96 on Monday. Relay Therapeutics has a 12 month low of $5.26 and a 12 month high of $21.27. The business’s 50 day moving average is $19.11 and its two-hundred day moving average is $16.38. The company has a market cap of $4.15 billion, a PE ratio of -12.08 and a beta of 1.72.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The firm had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.96 million. As a group, equities analysts expect that Relay Therapeutics will post -1.61 EPS for the current fiscal year.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing medicines for diseases driven by genetically defined targets, particularly in oncology. The company uses its proprietary Dynamo platform, which combines structural biology, computational modeling, machine learning and medicinal chemistry to study how proteins move and to identify potential drug-binding sites that may be difficult to address with conventional approaches.

Relay’s pipeline has included targeted cancer therapies such as RLY-2608, an investigational oral inhibitor designed to selectively target PI3K-alpha mutations, and RLY-4008 (lirafugratinib), an investigational FGFR2 inhibitor developed for cancers with specific FGFR2 alterations.