In yesterday’s Wall Street session, Relay Therapeutics Inc. (NASDAQ:RLAY) shares traded at $12.97, up 7.10% from the previous session.
13 analysts cover Relay Therapeutics Inc. (NASDAQ:RLAY), according to research data. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $39.00 and a low of $12.50, we find $29.00. Given the previous closing price of $12.11, this indicates a potential upside of 139.47 percent. RLAY stock price is now 13.25% away from the 50-day moving average and -21.88% away from the 200-day moving average. The market capitalization of the company currently stands at $1.53B.
The stock has received a hold rating from 2 analysts and a buy rating from 11. Brokers who have rated the stock have averaged $27.21 as their price target over the next twelve months.
With the price target maintained at $12.50, Jefferies recently Upgraded its rating from Underperform to Hold for Relay Therapeutics Inc. (NASDAQ: RLAY).
In other news, Bergstrom Donald A, President, R&D sold 647 shares of the company’s stock on Jun 27. The stock was sold for $7,842 at an average price of $12.12. Upon completion of the transaction, the President, R&D now directly owns 240,587 shares in the company, valued at $3.12 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 27, Chief Legal Officer Adams Brian sold 294 shares of the business’s stock. A total of $3,563 was realized by selling the stock at an average price of $12.12. This leaves the insider owning 133,515 shares of the company worth $1.73 million. Insiders disposed of 686,397 shares of company stock worth roughly $8.9 million over the past 1 year. A total of 1.20% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RLAY stock. A new stake in Relay Therapeutics Inc. shares was purchased by BIOIMPACT CAPITAL LLC during the first quarter worth $15,896,000. GREAT POINT PARTNERS I LP invested $8,536,000 in shares of RLAY during the first quarter. In the first quarter, BAKER BROS. ADVISORS LP acquired a new stake in Relay Therapeutics Inc. valued at approximately $3,683,000. SIO CAPITAL MANAGEMENT, LLC acquired a new stake in RLAY for approximately $2,983,000. JEFFERIES FINANCIAL GROUP INC. purchased a new stake in RLAY valued at around $1,651,000 in the second quarter. In total, there are 263 active investors with 108.59% ownership of the company’s stock.
On Wednesday morning Relay Therapeutics Inc. (NASDAQ: RLAY) stock kicked off with the opening price of $12.66. During the past 12 months, Relay Therapeutics Inc. has had a low of $9.67 and a high of $33.06. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 13.60, and a quick ratio of 13.60. The fifty day moving average price for RLAY is $11.48 and a two-hundred day moving average price translates $16.56 for the stock.
The latest earnings results from Relay Therapeutics Inc. (NASDAQ: RLAY) was released for Mar, 2023. According to the Biotechnology Company, earnings per share came in at -$0.78, missing analysts’ expectations of -$0.69 by -0.09. This compares to -$0.57 EPS in the same period last year. The company reported revenue of $0.23 million for the quarter, compared to $0.42 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -46.06 percent. For the current quarter, analysts expect RLAY to generate $750k in revenue.
Relay Therapeutics Inc.(RLAY) 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 GDC-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. In addition, it has collaboration and license agreements with D. E. Shaw Research, LLC to research certain biological targets through the use of D. E. Shaw Research computational modeling capabilities focused on analysis of protein motion to develop and commercialize compounds and products directed to such targets; and Genentech, Inc. for the development and commercialization of GDC-1971. The company was formerly known as Allostery, Inc. and changed its name to Relay Therapeutics, Inc. in December 2015. Relay Therapeutics, Inc. was incorporated in 2015 and is headquartered in Cambridge, Massachusetts.
