Relay Therapeutics (NASDAQ:RLAY) Earns “Buy” Rating from Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Relay Therapeutics (NASDAQ:RLAY) in a research note published on Monday morning, Benzinga reports. Stifel Nicolaus currently has a $28.00 price objective on the stock.

A number of other equities analysts have also weighed in on the company. JMP Securities decreased their target price on Relay Therapeutics from $24.00 to $21.00 and set a market outperform rating for the company in a research report on Thursday, July 18th. Barclays boosted their price objective on Relay Therapeutics from $14.00 to $17.00 and gave the company an overweight rating in a research note on Tuesday, September 10th. JPMorgan Chase & Co. cut their price objective on Relay Therapeutics from $23.00 to $21.00 and set an overweight rating for the company in a research note on Tuesday, September 10th. Oppenheimer downgraded Relay Therapeutics from an outperform rating to a market perform rating in a research note on Tuesday, September 10th. Finally, The Goldman Sachs Group initiated coverage on Relay Therapeutics in a research note on Tuesday, September 10th. They issued 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 data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $21.11.

Relay Therapeutics Price Performance

Shares of Relay Therapeutics stock opened at $7.86 on Monday. The business has a fifty day simple moving average of $7.60 and a two-hundred day simple moving average of $7.34. Relay Therapeutics has a 12 month low of $5.70 and a 12 month high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.04. During the same period in the previous year, the business posted ($0.81) EPS. On average, sell-side analysts anticipate that Relay Therapeutics will post -2.86 earnings per share for the current year.

Insider Activity

In other news, CEO Sanjiv Patel sold 36,706 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $9.07, for a total transaction of $332,923.42. Following the completion of the transaction, the chief executive officer now directly owns 766,130 shares in the company, valued at approximately $6,948,799.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Peter Rahmer sold 13,708 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $8.19, for a total transaction of $112,268.52. Following the completion of the transaction, the insider now directly owns 391,929 shares in the company, valued at approximately $3,209,898.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjiv Patel sold 36,706 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $9.07, for a total value of $332,923.42. Following the transaction, the chief executive officer now owns 766,130 shares of the company’s stock, valued at $6,948,799.10. The disclosure for this sale can be found here. In the last ninety days, insiders sold 84,738 shares of company stock worth $715,499. 4.32% of the stock is currently owned by insiders.

Institutional Trading of Relay Therapeutics

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC bought a new stake in Relay Therapeutics in the second quarter worth $37,000. Allspring Global Investments Holdings LLC bought a new stake in Relay Therapeutics in the first quarter worth $79,000. Virtu Financial LLC bought a new stake in Relay Therapeutics in the first quarter worth $87,000. Victory Capital Management Inc. bought a new stake in Relay Therapeutics in the fourth quarter worth $126,000. Finally, Quest Partners LLC bought a new stake in Relay Therapeutics in the fourth quarter worth $147,000. 96.98% of the stock is currently owned by institutional investors.

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 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.