HC Wainwright Boosts Relay Therapeutics (NASDAQ:RLAY) Price Target to $19.00

Relay Therapeutics (NASDAQ:RLAY) had its target price boosted by HC Wainwright from $18.00 to $19.00 in a report published on Monday, Benzinga reports. They currently have a buy rating on the stock.

RLAY has been the topic of several other reports. Oppenheimer lowered Relay Therapeutics from an outperform rating to a market perform rating in a research report on Tuesday, September 10th. Barclays upped their price target on Relay Therapeutics from $14.00 to $17.00 and gave the stock an overweight rating in a research note on Tuesday, September 10th. Bank of America upped their price target on Relay Therapeutics from $20.00 to $24.00 and gave the stock a buy rating in a research note on Tuesday, September 10th. JMP Securities decreased their price target on Relay Therapeutics from $24.00 to $21.00 and set a market outperform rating for the company in a research note on Thursday, July 18th. Finally, The Goldman Sachs Group started coverage on Relay Therapeutics in a research note on Tuesday, September 10th. They set a buy rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $21.11.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $7.58 on Monday. Relay Therapeutics has a fifty-two week low of $5.70 and a fifty-two week high of $12.14. The stock’s 50-day moving average is $7.60 and its two-hundred day moving average is $7.34. The firm has a market cap of $1.01 billion, a P/E ratio of -2.87 and a beta of 1.64.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same period last year, the business earned ($0.81) earnings per share. As a group, research analysts expect that Relay Therapeutics will post -2.86 EPS for the current year.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 13,708 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $8.19, for a total value of $112,268.52. Following the sale, the insider now owns 391,929 shares of the company’s stock, valued at approximately $3,209,898.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Thomas Catinazzo sold 10,780 shares of Relay Therapeutics stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $8.56, for a total transaction of $92,276.80. Following the sale, the chief financial officer now owns 319,650 shares of the company’s stock, valued at approximately $2,736,204. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Peter Rahmer sold 13,708 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $8.19, for a total value of $112,268.52. Following the sale, the insider now directly owns 391,929 shares in the company, valued at approximately $3,209,898.51. The disclosure for this sale can be found here. Insiders have sold 84,738 shares of company stock valued at $715,499 in the last 90 days. 4.32% of the stock is currently owned by insiders.

Institutional Trading of Relay Therapeutics

Several institutional investors have recently modified their holdings of RLAY. EverSource Wealth Advisors LLC acquired a new stake in shares of Relay Therapeutics during the 2nd quarter worth approximately $37,000. Allspring Global Investments Holdings LLC bought a new position in shares of Relay Therapeutics during the 1st quarter worth approximately $79,000. Virtu Financial LLC bought a new position in shares of Relay Therapeutics during the 1st quarter worth approximately $87,000. Los Angeles Capital Management LLC lifted its position in shares of Relay Therapeutics by 25.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after buying an additional 2,850 shares during the period. Finally, Victory Capital Management Inc. bought a new position in shares of Relay Therapeutics during the 4th quarter worth approximately $126,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

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.