Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives $24.00 Consensus PT from Analysts

Relay Therapeutics, Inc. (NASDAQ:RLAY) has been given an average rating of “Buy” by the six ratings firms that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have covered the stock in the last year is $24.00.

A number of brokerages have recently issued reports on RLAY. Oppenheimer reissued an “outperform” rating and set a $25.00 target price (down from $33.00) on shares of Relay Therapeutics in a research note on Monday. Stifel Nicolaus raised their target price on Relay Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Leerink Partnrs reaffirmed an “outperform” rating on shares of Relay Therapeutics in a research note on Thursday, February 22nd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $24.00 price objective on shares of Relay Therapeutics in a research note on Monday.

Institutional Trading of Relay Therapeutics

Large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Relay Therapeutics in the 1st quarter worth about $79,000. Victory Capital Management Inc. acquired a new stake in shares of Relay Therapeutics in the fourth quarter valued at approximately $126,000. Quest Partners LLC acquired a new stake in shares of Relay Therapeutics in the fourth quarter valued at approximately $147,000. Los Angeles Capital Management LLC increased its stake in shares of Relay Therapeutics by 25.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after purchasing an additional 2,850 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its position in shares of Relay Therapeutics by 354.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 14,257 shares of the company’s stock worth $157,000 after purchasing an additional 11,122 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Stock Performance

Shares of RLAY opened at $6.51 on Monday. The stock has a market capitalization of $864.14 million, a P/E ratio of -2.47 and a beta of 1.68. Relay Therapeutics has a 1 year low of $5.70 and a 1 year high of $13.32. The company’s fifty day moving average is $7.73 and its two-hundred day moving average is $8.80.

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

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.