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

Relay Therapeutics, Inc. (NASDAQ:RLAYGet Free Report) has been assigned an average rating of “Moderate Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $23.69.

Several analysts have recently issued reports on RLAY shares. Leerink Partnrs reiterated an “outperform” rating on shares of Relay Therapeutics in a research note on Thursday, February 22nd. Stifel Nicolaus increased their price objective on Relay Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd.

Check Out Our Latest Analysis on Relay Therapeutics

Relay Therapeutics Trading Down 2.8 %

Shares of NASDAQ RLAY opened at $6.83 on Thursday. The stock has a market cap of $895.96 million, a P/E ratio of -2.44 and a beta of 1.63. Relay Therapeutics has a 12-month low of $5.95 and a 12-month high of $18.32. The business’s fifty day simple moving average is $8.84 and its 200-day simple moving average is $8.98.

Relay Therapeutics (NASDAQ:RLAYGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.09. Relay Therapeutics had a negative return on equity of 42.43% and a negative net margin of 1,263.49%. During the same period in the previous year, the company earned ($0.56) EPS. On average, equities analysts forecast that Relay Therapeutics will post -2.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Relay Therapeutics

Large investors have recently bought and sold shares of the business. Royal Bank of Canada increased its holdings in Relay Therapeutics by 198.6% in the third quarter. Royal Bank of Canada now owns 1,287 shares of the company’s stock valued at $29,000 after buying an additional 856 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Relay Therapeutics during the second quarter worth about $39,000. Metropolitan Life Insurance Co NY grew its holdings in shares of Relay Therapeutics by 15.5% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 5,264 shares of the company’s stock worth $79,000 after purchasing an additional 706 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Relay Therapeutics by 48.9% during the first quarter. Great West Life Assurance Co. Can now owns 2,494 shares of the company’s stock worth $79,000 after purchasing an additional 819 shares during the last quarter. Finally, Shell Asset Management Co. purchased a new position in shares of Relay Therapeutics during the fourth quarter worth about $82,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Company Profile

(Get Free Report

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.

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Analyst Recommendations for Relay Therapeutics (NASDAQ:RLAY)

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