Equities researchers at Jefferies Financial Group started coverage on shares of Relay Therapeutics (NASDAQ:RLAY – Get Rating) in a report released on Monday, Briefing.com reports. The brokerage set an “underperform” rating and a $13.00 price target on the stock. Jefferies Financial Group’s price target points to a potential downside of 25.84% from the stock’s previous close.
Several other analysts have also recently commented on RLAY. The Goldman Sachs Group decreased their target price on Relay Therapeutics from $49.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. HC Wainwright decreased their target price on Relay Therapeutics from $54.00 to $47.00 in a report on Tuesday, May 10th. Zacks Investment Research cut Relay Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Finally, JMP Securities decreased their target price on Relay Therapeutics from $50.00 to $35.00 in a report on Monday, May 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $39.89.
Relay Therapeutics stock opened at $17.53 on Monday. The stock has a fifty day moving average price of $24.13 and a two-hundred day moving average price of $25.38. Relay Therapeutics has a 52-week low of $14.37 and a 52-week high of $38.60. The firm has a market capitalization of $1.90 billion, a P/E ratio of -4.44 and a beta of 1.80.
In other news, CFO Thomas Catinazzo sold 13,286 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, March 24th. The stock was sold at an average price of $30.00, for a total transaction of $398,580.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Donald A. Bergstrom sold 1,811 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $25.57, for a total value of $46,307.27. Following the transaction, the insider now owns 92,493 shares of the company’s stock, valued at $2,365,046.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,398 shares of company stock worth $2,791,051. 4.43% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its stake in Relay Therapeutics by 11.0% in the 3rd quarter. Wellington Management Group LLP now owns 1,407,841 shares of the company’s stock valued at $44,389,000 after purchasing an additional 139,654 shares during the period. Casdin Capital LLC boosted its stake in Relay Therapeutics by 5.1% in the 4th quarter. Casdin Capital LLC now owns 3,857,253 shares of the company’s stock valued at $118,456,000 after purchasing an additional 188,679 shares during the period. Renaissance Technologies LLC bought a new stake in Relay Therapeutics in the 3rd quarter valued at $4,811,000. Bellevue Group AG boosted its stake in Relay Therapeutics by 9.3% in the 4th quarter. Bellevue Group AG now owns 4,105,962 shares of the company’s stock valued at $126,094,000 after purchasing an additional 350,000 shares during the period. Finally, Rock Springs Capital Management LP boosted its stake in Relay Therapeutics by 4.3% in the 3rd quarter. Rock Springs Capital Management LP now owns 469,560 shares of the company’s stock valued at $14,805,000 after purchasing an additional 19,302 shares during the period.
Relay Therapeutics Company Profile (Get Rating)
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 RLY-1971, an oral small molecule inhibitor of protein tyrosine phosphatase Src homology region 2 domain-containing phosphatase-2 that is in Phase 1 trial in patients with advanced solid tumors.
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