Relay Therapeutics (NASDAQ:RLAY) Earns “Buy” Rating from Stifel Nicolaus

by · The Markets Daily

Stifel Nicolaus restated their buy rating on shares of Relay Therapeutics (NASDAQ:RLAY – Free Report) in a research report released on Monday morning, Benzinga reports. Stifel Nicolaus currently has a $28.00 price objective on the stock.

A number of other research analysts have also commented on RLAY. Bank of America raised their price target on Relay Therapeutics from $20.00 to $24.00 and gave the company a buy rating in a report on Tuesday, September 10th. The Goldman Sachs Group assumed coverage on shares of Relay Therapeutics in a research note on Tuesday, September 10th. They set a buy rating and a $20.00 target price on the stock. Jefferies Financial Group upgraded shares of Relay Therapeutics from a hold rating to a buy rating and increased their price objective for the company from $10.60 to $16.00 in a report on Tuesday, September 10th. Barclays raised their price objective on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an overweight rating in a research note on Tuesday, September 10th. Finally, JMP Securities cut their target price on Relay Therapeutics from $24.00 to $21.00 and set a market outperform rating for the company in a research report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Relay Therapeutics presently has a consensus rating of Moderate Buy and an average price target of $21.11.

Get Our Latest Stock Analysis on Relay Therapeutics

Relay Therapeutics Stock Down 0.3 %

Relay Therapeutics stock opened at $7.58 on Monday. Relay Therapeutics has a 52-week low of $5.70 and a 52-week high of $12.14. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of -2.87 and a beta of 1.64. The firm has a 50-day moving average price of $7.60 and a two-hundred day moving average price of $7.34.

Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the prior year, the business earned ($0.81) earnings per share. Research analysts expect that Relay Therapeutics will post -2.86 earnings per share for the current year.

Insider Buying and Selling at Relay Therapeutics

In other news, insider Peter Rahmer sold 13,708 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $8.19, for a total transaction of $112,268.52. Following the completion of the sale, the insider now directly owns 391,929 shares of the company’s stock, valued at approximately $3,209,898.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Relay Therapeutics news, insider Peter Rahmer sold 13,708 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $8.19, for a total transaction of $112,268.52. Following the sale, the insider now owns 391,929 shares in the company, valued at approximately $3,209,898.51. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sanjiv Patel sold 36,706 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $9.07, for a total transaction of $332,923.42. Following the completion of the transaction, the chief executive officer now owns 766,130 shares of the company’s stock, valued at $6,948,799.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 84,738 shares of company stock valued at $715,499. Corporate insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC acquired a new stake in Relay Therapeutics during the 2nd quarter valued at $37,000. Allspring Global Investments Holdings LLC purchased a new stake in Relay Therapeutics in the 1st quarter worth about $79,000. Virtu Financial LLC acquired a new stake in Relay Therapeutics during the 1st quarter worth about $87,000. Victory Capital Management Inc. purchased a new position in Relay Therapeutics during the 4th quarter valued at about $126,000. Finally, Quest Partners LLC acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at about $147,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

About Relay Therapeutics

(Get Free Report)

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.

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