Barclays began coverage on shares of Relay Therapeutics (NASDAQ:RLAY – Get Rating) in a research report released on Friday morning, The Fly reports. The firm issued an equal weight rating and a $23.00 target price on the stock.
Several other equities analysts have also issued reports on the stock. HC Wainwright lifted their target price on shares of Relay Therapeutics from $46.00 to $50.00 and gave the company a buy rating in a report on Monday, September 12th. Jefferies Financial Group assumed coverage on shares of Relay Therapeutics in a report on Monday, June 6th. They set an underperform rating and a $13.00 target price for the company. JMP Securities lifted their target price on shares of Relay Therapeutics from $35.00 to $38.00 and gave the company a market outperform rating in a report on Wednesday, September 14th. Finally, Stifel Nicolaus assumed coverage on shares of Relay Therapeutics in a report on Thursday, September 1st. They issued a buy rating and a $40.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $38.56.
Get Relay Therapeutics alerts:Relay Therapeutics Price Performance
NASDAQ RLAY opened at $22.37 on Friday. The business's 50-day moving average is $22.47 and its 200 day moving average is $22.24. The stock has a market capitalization of $2.44 billion, a PE ratio of -8.74 and a beta of 1.24. Relay Therapeutics has a 1 year low of $12.65 and a 1 year high of $37.67.
Relay Therapeutics (NASDAQ:RLAY – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.71) earnings per share for the quarter, missing the consensus estimate of ($0.62) by ($0.09). The firm had revenue of $0.37 million for the quarter. Relay Therapeutics had a negative net margin of 13,243.58% and a negative return on equity of 21.38%. As a group, equities research analysts anticipate that Relay Therapeutics will post -2.78 earnings per share for the current year.Insider Buying and Selling at Relay Therapeutics
In related news, insider Donald A. Bergstrom sold 8,000 shares of the firm's stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $20.00, for a total transaction of $160,000.00. Following the completion of the transaction, the insider now owns 91,494 shares of the company's stock, valued at $1,829,880. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Donald A. Bergstrom sold 8,000 shares of Relay Therapeutics stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $20.00, for a total value of $160,000.00. Following the sale, the insider now owns 91,494 shares in the company, valued at $1,829,880. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjiv Patel sold 14,000 shares of the business's stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $23.47, for a total transaction of $328,580.00. Following the transaction, the chief executive officer now owns 254,554 shares in the company, valued at $5,974,382.38. The disclosure for this sale can be found here. Insiders sold a total of 98,180 shares of company stock worth $2,602,011 over the last three months. Corporate insiders own 4.43% of the company's stock.
Institutional Investors Weigh In On Relay Therapeutics
Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Relay Therapeutics by 0.3% in the first quarter. Vanguard Group Inc. now owns 6,217,623 shares of the company's stock valued at $186,093,000 after purchasing an additional 19,181 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Relay Therapeutics by 6.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 5,300,307 shares of the company's stock valued at $88,780,000 after purchasing an additional 300,589 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Relay Therapeutics by 50.9% in the second quarter. JPMorgan Chase & Co. now owns 4,942,262 shares of the company's stock valued at $82,784,000 after purchasing an additional 1,667,873 shares during the period. State Street Corp lifted its stake in shares of Relay Therapeutics by 46.9% in the second quarter. State Street Corp now owns 4,778,419 shares of the company's stock valued at $80,039,000 after purchasing an additional 1,524,727 shares during the period. Finally, Casdin Capital LLC lifted its stake in shares of Relay Therapeutics by 5.5% in the second quarter. Casdin Capital LLC now owns 4,068,574 shares of the company's stock valued at $68,149,000 after purchasing an additional 211,321 shares during the period.
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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