Relay Therapeutics (NASDAQ:RLAY) Trading 5.4% Higher

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares traded up 5.4% on Thursday . The stock traded as high as $34.83 and last traded at $34.52. 8,271 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 697,169 shares. The stock had previously closed at $32.76.

Several equities research analysts have weighed in on the stock. JMP Securities restated a “buy” rating and issued a $50.00 price objective on shares of Relay Therapeutics in a research report on Monday, October 4th. Zacks Investment Research cut shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, August 19th. JPMorgan Chase & Co. upgraded shares of Relay Therapeutics to a “buy” rating and set a $51.00 price target for the company in a research report on Friday, October 8th. Bank of America began coverage on shares of Relay Therapeutics in a research report on Wednesday, July 21st. They set a “buy” rating and a $50.00 price target for the company. Finally, HC Wainwright lowered their price target on shares of Relay Therapeutics from $57.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, August 17th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $48.40.

The stock’s fifty day moving average is $32.67 and its 200-day moving average is $33.10.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, August 12th. The company reported ($2.10) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($1.62). The company had revenue of $0.84 million for the quarter. As a group, equities research analysts forecast that Relay Therapeutics, Inc. will post -3.87 earnings per share for the current fiscal year.

In other news, General Counsel Brian Adams sold 6,500 shares of the business’s stock in a transaction on Monday, September 13th. The shares were sold at an average price of $35.02, for a total value of $227,630.00. Following the sale, the general counsel now owns 32,077 shares of the company’s stock, valued at $1,123,336.54. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Thomas Catinazzo sold 22,500 shares of the business’s stock in a transaction on Monday, September 13th. The stock was sold at an average price of $35.00, for a total transaction of $787,500.00. Following the completion of the sale, the senior vice president now directly owns 38,077 shares in the company, valued at approximately $1,332,695. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,939 shares of company stock valued at $1,049,751. Corporate insiders own 4.88% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of RLAY. FORA Capital LLC acquired a new position in shares of Relay Therapeutics in the second quarter valued at $37,000. Lazard Asset Management LLC acquired a new position in shares of Relay Therapeutics in the first quarter valued at $64,000. Rockefeller Capital Management L.P. acquired a new position in shares of Relay Therapeutics in the first quarter valued at $74,000. HighMark Wealth Management LLC acquired a new position in shares of Relay Therapeutics in the second quarter valued at $88,000. Finally, E Fund Management Co. Ltd. acquired a new position in shares of Relay Therapeutics in the first quarter valued at $122,000. 93.94% of the stock is currently owned by hedge funds and other institutional investors.

About Relay Therapeutics (NASDAQ:RLAY)

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. The company's lead product candidates include 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; RLY-4008, an oral small molecule selective inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced solid tumors having oncogenic FGFR2 alterations; and RLY-PI3K1047, a lead compound that targets cancer-associated mutant variants of phosphoinositide 3-kinase alpha.

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