Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been assigned a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $20.50.

RLAY has been the topic of several analyst reports. Leerink Partners reduced their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Relay Therapeutics in a report on Tuesday, January 14th.

Insider Activity

In related news, CEO Sanjiv Patel sold 125,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $4.80, for a total value of $600,000.00. Following the sale, the chief executive officer now owns 324,548 shares of the company’s stock, valued at $1,557,830.40. The trade was a 27.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Peter Rahmer sold 32,156 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $4.15, for a total value of $133,447.40. Following the completion of the sale, the insider now owns 357,507 shares of the company’s stock, valued at $1,483,654.05. The trade was a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 354,646 shares of company stock valued at $1,672,757 over the last quarter. 4.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors have recently made changes to their positions in RLAY. Steward Partners Investment Advisory LLC raised its position in shares of Relay Therapeutics by 160.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock worth $27,000 after acquiring an additional 4,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Relay Therapeutics during the 3rd quarter worth approximately $63,000. Portland Investment Counsel Inc. bought a new stake in shares of Relay Therapeutics in the 3rd quarter valued at $71,000. Values First Advisors Inc. bought a new position in Relay Therapeutics during the third quarter worth $75,000. Finally, E Fund Management Co. Ltd. grew its holdings in Relay Therapeutics by 52.8% in the fourth quarter. E Fund Management Co. Ltd. now owns 17,654 shares of the company’s stock worth $73,000 after purchasing an additional 6,104 shares during the period. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Down 6.4 %

RLAY opened at $4.22 on Wednesday. Relay Therapeutics has a twelve month low of $3.50 and a twelve month high of $11.16. The stock has a market capitalization of $706.34 million, a price-to-earnings ratio of -1.62 and a beta of 1.61. The company has a 50-day simple moving average of $4.50 and a 200 day simple moving average of $5.91.

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.