Relay Therapeutics, Inc. (NASDAQ:RLAY) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAYGet Rating) have received an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $40.13.

A number of equities analysts have recently commented on RLAY shares. Stifel Nicolaus started coverage on shares of Relay Therapeutics in a report on Thursday, September 1st. They set a “buy” rating and a $40.00 price objective for the company. Jefferies Financial Group started coverage on shares of Relay Therapeutics in a report on Monday, June 6th. They set an “underperform” rating and a $13.00 price objective for the company. The Goldman Sachs Group reduced their price objective on shares of Relay Therapeutics from $49.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, May 24th. Finally, HC Wainwright increased their target price on shares of Relay Therapeutics from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 26,257 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $30.00, for a total value of $787,710.00. Following the completion of the sale, the chief financial officer now owns 52,218 shares in the company, valued at approximately $1,566,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mark Murcko sold 25,000 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $29.95, for a total transaction of $748,750.00. Following the completion of the sale, the director now owns 996,952 shares in the company, valued at approximately $29,858,712.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thomas Catinazzo sold 26,257 shares of Relay Therapeutics stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $30.00, for a total transaction of $787,710.00. Following the sale, the chief financial officer now owns 52,218 shares of the company’s stock, valued at approximately $1,566,540. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,008 shares of company stock worth $2,428,154. 4.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors have recently modified their holdings of the business. Brown Advisory Inc. grew its position in shares of Relay Therapeutics by 10.6% during the 2nd quarter. Brown Advisory Inc. now owns 12,914 shares of the company’s stock worth $397,000 after buying an additional 1,242 shares during the period. Legal & General Group Plc grew its position in shares of Relay Therapeutics by 18.7% during the 2nd quarter. Legal & General Group Plc now owns 60,577 shares of the company’s stock worth $1,015,000 after buying an additional 9,527 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Relay Therapeutics by 219.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 959,783 shares of the company’s stock worth $16,076,000 after buying an additional 659,012 shares during the period. Jane Street Group LLC boosted its stake in Relay Therapeutics by 99.9% during the 2nd quarter. Jane Street Group LLC now owns 19,716 shares of the company’s stock worth $330,000 after acquiring an additional 9,853 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Relay Therapeutics by 6.0% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 5,300,307 shares of the company’s stock worth $88,780,000 after acquiring an additional 300,589 shares during the last quarter.

Relay Therapeutics Stock Performance

NASDAQ:RLAY opened at $24.03 on Wednesday. The company has a 50-day moving average of $21.79 and a 200-day moving average of $22.26. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of -9.39 and a beta of 1.24. Relay Therapeutics has a 52 week low of $12.65 and a 52 week high of $38.15.

About Relay Therapeutics

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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 RLY-1971, an oral small molecule inhibitor of protein tyrosine phosphatase Src homology region 2 domain-containing phosphatase-2 that is in Phase 1 trial in patients with advanced solid tumors.

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Analyst Recommendations for Relay Therapeutics (NASDAQ:RLAY)

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