Brokerages Set Relay Therapeutics, Inc. (NASDAQ:RLAY) Target Price at $23.69

Relay Therapeutics, Inc. (NASDAQ:RLAY) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $23.69.

RLAY has been the topic of several recent research reports. Leerink Partnrs reaffirmed an “outperform” rating on shares of Relay Therapeutics in a research report on Thursday, February 22nd. Stifel Nicolaus increased their target price on Relay Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd.

Relay Therapeutics Stock Down 2.8 %

Shares of NASDAQ:RLAY opened at $6.83 on Thursday. Relay Therapeutics has a 52-week low of $5.95 and a 52-week high of $18.32. The stock has a market cap of $895.96 million, a P/E ratio of -2.44 and a beta of 1.63. The business’s 50 day moving average is $8.84 and its 200 day moving average is $8.98.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.09. Relay Therapeutics had a negative return on equity of 42.43% and a negative net margin of 1,263.49%. During the same period in the previous year, the company earned ($0.56) EPS. On average, sell-side analysts anticipate that Relay Therapeutics will post -2.84 EPS for the current fiscal year.

Institutional Trading of Relay Therapeutics

A number of institutional investors have recently made changes to their positions in the business. Metropolitan Life Insurance Co NY raised its stake in Relay Therapeutics by 15.5% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 5,264 shares of the company’s stock worth $79,000 after acquiring an additional 706 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Relay Therapeutics by 48.9% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,494 shares of the company’s stock worth $79,000 after acquiring an additional 819 shares during the last quarter. Vontobel Holding Ltd. raised its stake in Relay Therapeutics by 12.7% in the 1st quarter. Vontobel Holding Ltd. now owns 7,413 shares of the company’s stock worth $222,000 after acquiring an additional 833 shares during the last quarter. Royal Bank of Canada raised its stake in Relay Therapeutics by 198.6% in the 3rd quarter. Royal Bank of Canada now owns 1,287 shares of the company’s stock worth $29,000 after acquiring an additional 856 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Relay Therapeutics by 12.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,897 shares of the company’s stock worth $149,000 after acquiring an additional 1,010 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Company Profile

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.