Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock Has Consensus Price Target of $25.92 According to Brokerages

Relay Therapeutics, Inc. (NASDAQ:RLAY) has been given a consensus rating of “Moderate Buy” by the fourteen research firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, ten have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $25.92.

Several analysts have issued reports on the company. Barclays boosted their target price on Relay Therapeutics from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Zacks Research raised Relay Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. The Goldman Sachs Group boosted their price objective on Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. HC Wainwright boosted their price objective on Relay Therapeutics from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Guggenheim reiterated a “buy” rating on shares of Relay Therapeutics in a research report on Friday, August 7th.

Insider Buying and Selling

In related news, insider Donald Bergstrom sold 8,530 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $18.97, for a total value of $161,814.10. Following the completion of the transaction, the insider directly owned 399,130 shares of the company’s stock, valued at approximately $7,571,496.10. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $18.10, for a total transaction of $872,401.90. Following the completion of the transaction, the chief executive officer owned 471,301 shares of the company’s stock, valued at $8,530,548.10. This represents a 9.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 6,149,314 shares of company stock valued at $119,185,022. Corporate insiders own 5.04% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors have recently made changes to their positions in RLAY. BlackRock Inc. bought a new stake in shares of Relay Therapeutics during the 2nd quarter valued at $286,042,000. Perceptive Advisors LLC increased its position in shares of Relay Therapeutics by 412.3% during the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after buying an additional 7,847,896 shares during the period. Spruce Street Capital LP bought a new stake in shares of Relay Therapeutics during the second quarter valued at about $55,832,979. Dimensional Fund Advisors LP lifted its holdings in shares of Relay Therapeutics by 18.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,940,536 shares of the company’s stock worth $29,248,000 after buying an additional 460,186 shares in the last quarter. Finally, Bank of America Corp DE purchased a new stake in shares of Relay Therapeutics in the second quarter worth about $50,425,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $18.18 on Friday. The company has a 50 day moving average of $18.64 and a 200-day moving average of $17.16. Relay Therapeutics has a 12-month low of $5.95 and a 12-month high of $21.27. The firm has a market cap of $3.98 billion, a P/E ratio of -11.58 and a beta of 1.72.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. As a group, equities analysts expect that Relay Therapeutics will post -1.61 EPS for the current year.

About Relay Therapeutics

Relay Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines for cancer and other serious diseases. The company uses its Dynamo platform, which combines structural biology, computational modeling, machine learning and experimental science to study how proteins move and interact. Relay aims to use this approach to identify precisely targeted therapies, including medicines designed to bind to previously difficult-to-drug sites.

The company’s pipeline has primarily focused on oncology, including investigational small-molecule therapies directed at cancer-driving proteins and signaling pathways.