Stifel Nicolaus Issues Pessimistic Forecast for Relay Therapeutics (NASDAQ:RLAY) Stock Price

Relay Therapeutics (NASDAQ:RLAY) had its price target lowered by equities researchers at Stifel Nicolaus from $27.00 to $23.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock.

RLAY has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, January 14th. Leerink Partners reduced their price objective on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Finally, JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.80.

Relay Therapeutics Stock Up 4.9 %

Shares of NASDAQ RLAY opened at $3.41 on Thursday. Relay Therapeutics has a 52-week low of $3.05 and a 52-week high of $10.72. The firm has a fifty day moving average of $4.29 and a 200-day moving average of $5.52. The stock has a market capitalization of $570.78 million, a PE ratio of -1.31 and a beta of 1.61.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.12. Equities research analysts expect that Relay Therapeutics will post -2.55 EPS for the current fiscal year.

Insider Transactions at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $5.00, for a total transaction of $500,000.00. Following the sale, the chief executive officer now directly owns 574,548 shares of the company’s stock, valued at approximately $2,872,740. The trade was a 14.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Catinazzo sold 36,036 shares of Relay Therapeutics stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $4.63, for a total value of $166,846.68. Following the sale, the chief financial officer now directly owns 263,190 shares in the company, valued at approximately $1,218,569.70. The trade was a 12.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 570,152 shares of company stock valued at $2,491,157. 4.32% of the stock is currently owned by insiders.

Institutional Trading of Relay Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of RLAY. Steward Partners Investment Advisory LLC increased its holdings in Relay Therapeutics by 160.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after buying an additional 4,000 shares during the last quarter. Stifel Financial Corp bought a new stake in Relay Therapeutics in the fourth quarter valued at about $42,000. Twinbeech Capital LP bought a new stake in Relay Therapeutics in the fourth quarter valued at about $42,000. Cibc World Markets Corp bought a new stake in Relay Therapeutics in the fourth quarter valued at about $47,000. Finally, Summit Investment Advisors Inc. increased its holdings in Relay Therapeutics by 41.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company’s stock valued at $52,000 after buying an additional 3,760 shares during the last quarter. 96.98% of the stock is owned by institutional investors.

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.