Relay Therapeutics (NASDAQ:RLAY) PT Lowered to $19.00

Relay Therapeutics (NASDAQ:RLAY) had its price objective decreased by HC Wainwright from $33.00 to $19.00 in a research report released on Wednesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Several other research analysts have also recently commented on the stock. Oppenheimer reiterated an outperform rating and issued a $33.00 target price on shares of Relay Therapeutics in a report on Wednesday, August 9th. Leerink Partnrs reissued an outperform rating on shares of Relay Therapeutics in a research note on Tuesday, August 8th. Finally, SVB Securities assumed coverage on Relay Therapeutics in a research report on Tuesday, August 8th. They set an outperform rating on the stock. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $24.83.

Relay Therapeutics Stock Up 1.2 %

Shares of NASDAQ RLAY opened at $7.66 on Wednesday. Relay Therapeutics has a 12 month low of $5.95 and a 12 month high of $23.18. The company has a market cap of $944.25 million, a price-to-earnings ratio of -2.85 and a beta of 1.47. The business has a fifty day simple moving average of $8.21 and a 200-day simple moving average of $10.30.

Institutional Investors Weigh In On Relay Therapeutics

A number of large investors have recently added to or reduced their stakes in RLAY. Price T Rowe Associates Inc. MD grew its stake in Relay Therapeutics by 52.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,862,960 shares of the company’s stock valued at $113,034,000 after buying an additional 2,369,956 shares during the last quarter. Morgan Stanley increased its stake in shares of Relay Therapeutics by 592.1% in the fourth quarter. Morgan Stanley now owns 2,369,344 shares of the company’s stock worth $35,398,000 after purchasing an additional 2,027,003 shares during the period. Norges Bank acquired a new stake in Relay Therapeutics in the 4th quarter valued at approximately $26,718,000. State Street Corp increased its position in Relay Therapeutics by 46.9% in the 2nd quarter. State Street Corp now owns 4,778,419 shares of the company’s stock worth $80,039,000 after buying an additional 1,524,727 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Relay Therapeutics by 17.8% during the third quarter. Vanguard Group Inc. now owns 8,359,520 shares of the company’s stock worth $187,003,000 after buying an additional 1,261,066 shares during the last quarter.

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 GDC-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.