Relay Therapeutics (NASDAQ:RLAY) Stock Price Up 4.8% – Should You Buy?

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares were up 4.8% during mid-day trading on Wednesday . The company traded as high as $4.88 and last traded at $4.84. Approximately 1,385,502 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 1,432,126 shares. The stock had previously closed at $4.62.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and raised their target price for the company from $10.60 to $16.00 in a report on Tuesday, September 10th. Barclays increased their target price on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Stifel Nicolaus reissued a “buy” rating and set a $28.00 price objective on shares of Relay Therapeutics in a research note on Monday, September 16th. Bank of America increased their target price on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Oppenheimer downgraded Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Relay Therapeutics Stock Up 4.5 %

The stock has a market cap of $808.46 million, a P/E ratio of -1.85 and a beta of 1.60. The firm’s 50-day moving average is $4.87 and its two-hundred day moving average is $6.36.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. The company’s quarterly revenue was down 100.0% on a year-over-year basis. During the same period last year, the business posted ($0.54) EPS. Analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Activity

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the transaction, the chief financial officer now directly owns 306,391 shares in the company, valued at approximately $1,856,729.46. This represents a 2.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sanjiv Patel sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $5.00, for a total transaction of $500,000.00. Following the completion of the transaction, the chief executive officer now directly owns 574,548 shares in the company, valued at approximately $2,872,740. The trade was a 14.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 162,319 shares of company stock worth $781,067. Company insiders own 4.32% of the company’s stock.

Institutional Trading of Relay Therapeutics

A number of large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Relay Therapeutics by 26.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock worth $7,333,000 after buying an additional 214,398 shares in the last quarter. Maven Securities LTD bought a new stake in Relay Therapeutics during the third quarter worth $2,389,000. Geode Capital Management LLC lifted its stake in Relay Therapeutics by 15.5% in the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock valued at $19,348,000 after acquiring an additional 367,473 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Relay Therapeutics by 3,883.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock valued at $9,429,000 after acquiring an additional 1,361,779 shares during the period. Finally, First Turn Management LLC acquired a new position in shares of Relay Therapeutics during the 3rd quarter worth about $8,683,000. Institutional investors 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.