Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives $20.50 Average Price Target from Analysts

Relay Therapeutics, Inc. (NASDAQ:RLAY) has been given an average rating of “Moderate Buy” by the eleven research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $20.50.

Several equities analysts recently weighed in on RLAY shares. Leerink Partners cut their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. Finally, HC Wainwright restated a “buy” rating and set a $16.00 target price on shares of Relay Therapeutics in a research report on Tuesday, January 14th.

Relay Therapeutics Stock Performance

Shares of RLAY stock opened at $3.74 on Wednesday. Relay Therapeutics has a fifty-two week low of $3.50 and a fifty-two week high of $11.16. The firm has a market capitalization of $626.01 million, a PE ratio of -1.43 and a beta of 1.61. The stock’s 50-day simple moving average is $4.48 and its 200-day simple moving average is $5.86.

Insider Activity at Relay Therapeutics

In related news, insider Peter Rahmer sold 32,156 shares of the business’s 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 approximately $1,483,654.05. The trade was a 8.25 % decrease in their position. 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 the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $4.63, for a total transaction of $166,846.68. Following the transaction, 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 quarter, insiders have sold 354,646 shares of company stock worth $1,672,757. 4.32% of the stock is owned by company insiders.

Institutional Trading of Relay Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in Relay Therapeutics by 26.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock valued at $7,333,000 after purchasing an additional 214,398 shares during the last quarter. Maven Securities LTD acquired a new stake in shares of Relay Therapeutics in the third quarter valued at about $2,389,000. Geode Capital Management LLC lifted its stake in shares of Relay Therapeutics by 15.5% in the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock worth $19,348,000 after buying an additional 367,473 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Relay Therapeutics by 39.2% in the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock worth $39,064,000 after buying an additional 1,554,115 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Relay Therapeutics by 3,883.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock valued at $9,429,000 after acquiring an additional 1,361,779 shares in the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

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.