HC Wainwright Issues Positive Forecast for Relay Therapeutics (NASDAQ:RLAY) Stock Price

by · The Markets Daily

Relay Therapeutics (NASDAQ:RLAY – Free Report) had its price objective raised by HC Wainwright from $19.00 to $20.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

RLAY has been the topic of a number of other research reports. Oppenheimer cut Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. The Goldman Sachs Group started coverage on shares of Relay Therapeutics in a report on Tuesday, September 10th. They set a “buy” rating and a $20.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Barclays lifted their target price 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. Finally, JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a report on Tuesday, September 17th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.22.

Get Our Latest Analysis on RLAY

Relay Therapeutics Stock Up 1.0 %

Relay Therapeutics stock traded up $0.06 during midday trading on Friday, hitting $6.20. The company’s stock had a trading volume of 1,225,076 shares, compared to its average volume of 1,450,147. Relay Therapeutics has a 12 month low of $5.60 and a 12 month high of $12.14. The company has a market capitalization of $830.12 million, a PE ratio of -2.38 and a beta of 1.67. The stock’s 50-day moving average price is $6.79 and its 200-day moving average price is $7.00.

Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.14. The firm’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.54) EPS. As a group, equities analysts anticipate that Relay Therapeutics will post -2.84 EPS for the current year.

Insider Buying and Selling at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 6,802 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the transaction, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at $1,856,729.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.32% of the company’s stock.

Institutional Trading of Relay Therapeutics

Several institutional investors have recently bought and sold shares of RLAY. American International Group Inc. increased its position in shares of Relay Therapeutics by 4.0% during the 1st quarter. American International Group Inc. now owns 46,686 shares of the company’s stock worth $387,000 after purchasing an additional 1,810 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Relay Therapeutics by 6.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company’s stock worth $292,000 after buying an additional 2,547 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Relay Therapeutics by 14.9% in the first quarter. ProShare Advisors LLC now owns 26,214 shares of the company’s stock valued at $218,000 after acquiring an additional 3,394 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Relay Therapeutics by 7.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,917 shares of the company’s stock worth $456,000 after acquiring an additional 3,684 shares in the last quarter. Finally, EverSource Wealth Advisors LLC bought a new stake in Relay Therapeutics during the 2nd quarter worth approximately $37,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

About Relay Therapeutics

(Get Free Report)

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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