Relay Therapeutics’ (RLAY) “Outperform” Rating Reiterated at Oppenheimer

Relay Therapeutics (NASDAQ:RLAY)‘s stock had its “outperform” rating restated by equities research analysts at Oppenheimer in a note issued to investors on Monday, Benzinga reports. They presently have a $25.00 price target on the stock, down from their prior price target of $33.00. Oppenheimer’s price objective suggests a potential upside of 255.11% from the stock’s previous close.

A number of other analysts have also commented on RLAY. Leerink Partnrs reiterated an “outperform” rating on shares of Relay Therapeutics in a research report on Thursday, February 22nd. Stifel Nicolaus upped their price objective on Relay Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $24.00.

Relay Therapeutics Stock Down 0.6 %

Shares of RLAY stock opened at $7.04 on Monday. The company has a market capitalization of $934.49 million, a P/E ratio of -2.67 and a beta of 1.68. Relay Therapeutics has a 12-month low of $5.70 and a 12-month high of $13.32. The firm has a 50-day moving average price of $7.86 and a 200 day moving average price of $8.80.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.08. Relay Therapeutics had a negative return on equity of 42.66% and a negative net margin of 1,263.49%. The company had revenue of $10.01 million during the quarter, compared to analyst estimates of $0.12 million. During the same period last year, the company posted ($0.78) earnings per share. The firm’s quarterly revenue was up 4327.9% compared to the same quarter last year. As a group, research analysts expect that Relay Therapeutics will post -2.84 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Relay Therapeutics in the 1st quarter valued at approximately $79,000. Los Angeles Capital Management LLC grew its position in shares of Relay Therapeutics by 25.7% in the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock valued at $116,000 after acquiring an additional 2,850 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Relay Therapeutics in the 4th quarter valued at about $126,000. Aigen Investment Management LP acquired a new stake in Relay Therapeutics in the 3rd quarter valued at about $142,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in Relay Therapeutics in the first quarter valued at approximately $146,000. Institutional investors 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.