Relay Therapeutics, Inc. (NASDAQ:RLAY) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) have been assigned a consensus rating of “Moderate Buy” from the ten analysts that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $23.69.

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus raised their price target on shares of Relay Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Leerink Partnrs restated an “outperform” rating on shares of Relay Therapeutics in a report on Thursday, February 22nd.

Relay Therapeutics Price Performance

RLAY opened at $6.90 on Thursday. The company has a fifty day moving average price of $8.95 and a 200-day moving average price of $9.00. The firm has a market capitalization of $905.14 million, a P/E ratio of -2.46 and a beta of 1.63. Relay Therapeutics has a one year low of $5.95 and a one year high of $19.23.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Thursday, February 22nd. The company reported ($0.67) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.09. Relay Therapeutics had a negative net margin of 1,263.49% and a negative return on equity of 42.43%. During the same quarter last year, the company posted ($0.56) EPS. On average, analysts expect that Relay Therapeutics will post -2.84 earnings per share for the current year.

Institutional Trading of Relay Therapeutics

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its stake in shares of Relay Therapeutics by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 286,886 shares of the company’s stock valued at $8,586,000 after purchasing an additional 5,958 shares during the period. MetLife Investment Management LLC increased its holdings in Relay Therapeutics by 55.4% during the first quarter. MetLife Investment Management LLC now owns 37,962 shares of the company’s stock valued at $1,136,000 after buying an additional 13,536 shares during the last quarter. Rhumbline Advisers raised its position in Relay Therapeutics by 7.8% in the first quarter. Rhumbline Advisers now owns 75,438 shares of the company’s stock worth $2,258,000 after acquiring an additional 5,437 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of Relay Therapeutics by 48.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,494 shares of the company’s stock worth $79,000 after acquiring an additional 819 shares during the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Relay Therapeutics during the 1st quarter valued at $1,733,000. 96.98% of the stock is currently owned by institutional investors.

About Relay Therapeutics

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.