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

Relay Therapeutics (NASDAQ:RLAY) had its target price boosted by HC Wainwright from $19.00 to $20.00 in a research report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued research reports about the company. Stifel Nicolaus reiterated a “buy” rating and set a $28.00 target price on shares of Relay Therapeutics in a report on Monday, September 16th. JMP Securities restated a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, September 17th. Barclays raised their target price on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Oppenheimer lowered shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Finally, Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.22.

Relay Therapeutics Trading Up 1.0 %

Shares of NASDAQ:RLAY traded up $0.06 during trading on Friday, hitting $6.20. 1,225,076 shares of the company’s stock were exchanged, compared to its average volume of 1,450,147. The firm has a 50-day moving average price of $6.79 and a two-hundred day moving average price of $7.00. Relay Therapeutics has a 1-year low of $5.60 and a 1-year high of $12.14. The firm has a market cap of $830.12 million, a P/E ratio of -2.38 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.14. During the same quarter in the prior year, the firm earned ($0.54) EPS. Relay Therapeutics’s revenue for the quarter was down 100.0% compared to the same quarter last year. As a group, research analysts predict that Relay Therapeutics will post -2.84 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Thomas Catinazzo sold 6,802 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the transaction, the chief financial officer now owns 306,391 shares in the company, valued at $1,856,729.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Relay Therapeutics in the 1st quarter worth approximately $79,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Relay Therapeutics by 7.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,917 shares of the company’s stock valued at $456,000 after purchasing an additional 3,684 shares during the period. Swiss National Bank grew its stake in Relay Therapeutics by 4.5% during the first quarter. Swiss National Bank now owns 163,500 shares of the company’s stock worth $1,357,000 after purchasing an additional 7,100 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in shares of Relay Therapeutics in the 1st quarter valued at $127,000. Finally, Russell Investments Group Ltd. increased its stake in Relay Therapeutics by 57.2% in the first quarter. Russell Investments Group Ltd. now owns 179,972 shares of the company’s stock valued at $1,494,000 after purchasing an additional 65,484 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

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.