Relay Therapeutics, Inc. (NASDAQ:RLAY – Get Free Report) gapped up before the market opened on Monday after HC Wainwright raised their price target on the stock from $18.00 to $19.00. The stock had previously closed at $7.60, but opened at $8.15. HC Wainwright currently has a buy rating on the stock. Relay Therapeutics shares last traded at $8.14, with a volume of 528,571 shares traded.
A number of other equities analysts also recently commented on RLAY. Barclays raised their price objective on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. JMP Securities cut their price objective on shares of Relay Therapeutics from $24.00 to $21.00 and set a “market outperform” rating on the stock in a report on Thursday, July 18th. Oppenheimer downgraded shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. Bank of America upped their price target on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company 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, the company has an average rating of “Moderate Buy” and an average price target of $21.11.
View Our Latest Stock Report on Relay Therapeutics
Insider Buying and Selling
Hedge Funds Weigh In On Relay Therapeutics
Large investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Relay Therapeutics during the fourth quarter valued at approximately $33,789,000. BVF Inc. IL lifted its position in shares of Relay Therapeutics by 67.8% during the 4th quarter. BVF Inc. IL now owns 3,970,045 shares of the company’s stock valued at $43,710,000 after acquiring an additional 1,604,240 shares during the last quarter. Logos Global Management LP acquired a new stake in shares of Relay Therapeutics during the 2nd quarter valued at $8,476,000. Vanguard Group Inc. boosted its stake in shares of Relay Therapeutics by 10.9% during the 1st quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock worth $98,070,000 after acquiring an additional 1,165,282 shares in the last quarter. Finally, Bellevue Group AG grew its holdings in shares of Relay Therapeutics by 21.5% in the 4th quarter. Bellevue Group AG now owns 5,936,082 shares of the company’s stock worth $65,356,000 after acquiring an additional 1,051,082 shares during the last quarter. Institutional investors own 96.98% of the company’s stock.
Relay Therapeutics Stock Up 6.7 %
The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of -3.07 and a beta of 1.64. The business has a 50-day moving average price of $7.57 and a 200-day moving average price of $7.36.
Relay Therapeutics (NASDAQ:RLAY – Get Free Report) 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 quarter last year, the firm earned ($0.81) earnings per share. As a group, sell-side analysts predict that Relay Therapeutics, Inc. will post -2.86 EPS 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.
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