Relay Therapeutics’ (RLAY) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Relay Therapeutics (NASDAQ:RLAY) in a research note released on Monday morning, Benzinga reports. HC Wainwright currently has a $19.00 target price on the stock.

Several other analysts have also recently commented on the company. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a report on Tuesday, September 17th. Barclays upped their price objective on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Bank of America lifted their target price on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. dropped their target price on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Finally, The Goldman Sachs Group began coverage on Relay Therapeutics in a report on Tuesday, September 10th. They set a “buy” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.11.

Relay Therapeutics Price Performance

Shares of Relay Therapeutics stock opened at $6.64 on Monday. Relay Therapeutics has a twelve month low of $5.70 and a twelve month high of $12.14. The company’s fifty day moving average is $7.03 and its 200 day moving average is $7.09.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Tuesday, August 6th. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same period last year, the company earned ($0.81) EPS. Analysts expect that Relay Therapeutics will post -2.84 EPS for the current year.

Insiders Place Their Bets

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 10,780 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $8.56, for a total transaction of $92,276.80. Following the completion of the sale, the chief financial officer now owns 319,650 shares in the company, valued at approximately $2,736,204. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Sanjiv Patel sold 36,706 shares of Relay Therapeutics stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $9.07, for a total transaction of $332,923.42. Following the transaction, the chief executive officer now owns 766,130 shares of the company’s stock, valued at $6,948,799.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas Catinazzo sold 10,780 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $8.56, for a total value of $92,276.80. Following the sale, the chief financial officer now owns 319,650 shares of the company’s stock, valued at $2,736,204. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,717 shares of company stock worth $652,955. 4.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Relay Therapeutics by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 10,650,387 shares of the company’s stock worth $117,261,000 after acquiring an additional 98,025 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Relay Therapeutics by 25.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after purchasing an additional 2,850 shares during the period. Congress Asset Management Co. MA boosted its holdings in shares of Relay Therapeutics by 1.4% in the 1st quarter. Congress Asset Management Co. MA now owns 149,082 shares of the company’s stock worth $1,237,000 after buying an additional 2,108 shares during the last quarter. TrueMark Investments LLC grew its position in Relay Therapeutics by 13.5% during the first quarter. TrueMark Investments LLC now owns 54,445 shares of the company’s stock valued at $452,000 after buying an additional 6,487 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Relay Therapeutics during the first quarter worth about $79,000. 96.98% of the stock is owned by hedge funds and other 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.