Relay Therapeutics (NASDAQ:RLAY) Rating Reiterated by JMP Securities

JMP Securities reiterated their market outperform rating on shares of Relay Therapeutics (NASDAQ:RLAY) in a report released on Monday, Benzinga reports. The firm currently has a $24.00 price target on the stock.

Several other analysts have also commented on the stock. Stifel Nicolaus lifted their price target on shares of Relay Therapeutics from $25.00 to $30.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Leerink Partnrs reiterated an outperform rating on shares of Relay Therapeutics in a report on Thursday, February 22nd. Finally, Oppenheimer restated an outperform rating and issued a $25.00 price objective (down from $33.00) on shares of Relay Therapeutics in a report on Monday. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of Buy and an average price target of $24.00.

Relay Therapeutics Stock Performance

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

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

Institutional Trading of Relay Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of RLAY. Vanguard Group Inc. grew its holdings in shares of Relay Therapeutics by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 10,650,387 shares of the company’s stock valued at $117,261,000 after purchasing an additional 98,025 shares in the last quarter. Bellevue Group AG boosted its position in Relay Therapeutics by 21.5% in the 4th quarter. Bellevue Group AG now owns 5,936,082 shares of the company’s stock valued at $65,356,000 after buying an additional 1,051,082 shares during the period. BVF Inc. IL grew its stake in shares of Relay Therapeutics by 67.8% in the fourth quarter. BVF Inc. IL now owns 3,970,045 shares of the company’s stock worth $43,710,000 after acquiring an additional 1,604,240 shares in the last quarter. Norges Bank purchased a new stake in shares of Relay Therapeutics during the fourth quarter worth $33,789,000. Finally, Finepoint Capital LP raised its stake in shares of Relay Therapeutics by 51.3% in the fourth quarter. Finepoint Capital LP now owns 1,317,870 shares of the company’s stock valued at $14,510,000 after acquiring an additional 447,000 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

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.