Relay Therapeutics, Inc. (NASDAQ:RLAY) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $16.50.

A number of equities research analysts recently weighed in on RLAY shares. Guggenheim started coverage on Relay Therapeutics in a research report on Thursday, September 4th. They set a “buy” rating and a $15.00 price objective on the stock. HC Wainwright decreased their price objective on Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a report on Tuesday, August 26th. Raymond James Financial lowered their price objective on Relay Therapeutics from $29.00 to $19.00 and set a “strong-buy” rating for the company in a research report on Friday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Tuesday, October 14th.

Insider Activity at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 21,664 shares of Relay Therapeutics stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $7.29, for a total transaction of $157,930.56. Following the completion of the sale, the chief financial officer directly owned 313,631 shares in the company, valued at approximately $2,286,369.99. The trade was a 6.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Donald A. Bergstrom sold 30,897 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $7.29, for a total value of $225,239.13. Following the completion of the transaction, the insider directly owned 521,823 shares in the company, valued at approximately $3,804,089.67. The trade was a 5.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 155,163 shares of company stock valued at $1,117,630 over the last 90 days. Company insiders own 4.87% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

A number of large investors have recently bought and sold shares of RLAY. Vanguard Personalized Indexing Management LLC boosted its holdings in Relay Therapeutics by 8.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 27,871 shares of the company’s stock worth $145,000 after buying an additional 2,079 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Relay Therapeutics by 15.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 47,147 shares of the company’s stock worth $246,000 after acquiring an additional 6,164 shares during the period. SG Americas Securities LLC boosted its stake in shares of Relay Therapeutics by 17.8% during the 3rd quarter. SG Americas Securities LLC now owns 31,945 shares of the company’s stock worth $167,000 after acquiring an additional 4,825 shares in the last quarter. CWM LLC grew its position in shares of Relay Therapeutics by 19.2% during the 3rd quarter. CWM LLC now owns 67,928 shares of the company’s stock valued at $355,000 after acquiring an additional 10,935 shares during the period. Finally, Congress Asset Management Co. grew its position in shares of Relay Therapeutics by 160.9% during the 3rd quarter. Congress Asset Management Co. now owns 408,842 shares of the company’s stock valued at $2,134,000 after acquiring an additional 252,142 shares during the period. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Down 0.3%

RLAY opened at $6.53 on Friday. Relay Therapeutics has a 52 week low of $1.77 and a 52 week high of $7.64. The stock’s fifty day moving average is $5.50 and its two-hundred day moving average is $4.08. The company has a market capitalization of $1.13 billion, a P/E ratio of -3.35 and a beta of 1.76.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Thursday, November 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). Equities analysts anticipate that Relay Therapeutics will post -2.55 earnings per share 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.