Relay Therapeutics (NASDAQ:RLAY) Trading 8.5% Higher – Should You Buy?

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s stock price rose 8.5% on Friday . The company traded as high as $7.12 and last traded at $7.34. Approximately 254,892 shares traded hands during trading, a decline of 88% from the average daily volume of 2,112,160 shares. The stock had previously closed at $6.76.

Analyst Ratings Changes

RLAY has been the topic of a number of recent research reports. HC Wainwright cut their target price on shares of Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, August 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Tuesday, October 14th. Raymond James Financial reduced their price objective on Relay Therapeutics from $29.00 to $19.00 and set a “strong-buy” rating for the company in a research report on Friday, August 8th. Finally, Guggenheim started coverage on Relay Therapeutics in a research report on Thursday, September 4th. They issued a “buy” rating and a $15.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Relay Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $16.50.

Relay Therapeutics Trading Up 1.5%

The firm has a 50-day moving average of $4.86 and a 200 day moving average of $3.80. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -3.52 and a beta of 1.75.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.08. The business had revenue of $0.70 million during the quarter, compared to the consensus estimate of $0.07 million. Equities research analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, insider Brian Adams sold 18,276 shares of the business’s stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $3.68, for a total transaction of $67,255.68. Following the sale, the insider directly owned 371,472 shares in the company, valued at approximately $1,367,016.96. The trade was a 4.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Rahmer sold 15,724 shares of the firm’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $3.68, for a total transaction of $57,864.32. Following the transaction, the insider owned 377,998 shares in the company, valued at $1,391,032.64. This represents a 3.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 87,847 shares of company stock valued at $323,803 over the last quarter. Corporate insiders own 4.87% of the company’s stock.

Institutional Trading of Relay Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RLAY. Murchinson Ltd. bought a new position in Relay Therapeutics during the first quarter valued at about $26,000. DRW Securities LLC acquired a new stake in Relay Therapeutics in the 1st quarter valued at about $28,000. FNY Investment Advisers LLC lifted its holdings in Relay Therapeutics by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $34,000 after acquiring an additional 5,000 shares during the last quarter. Quinn Opportunity Partners LLC bought a new position in shares of Relay Therapeutics during the 2nd quarter valued at about $35,000. Finally, May Hill Capital LLC acquired a new position in shares of Relay Therapeutics in the 2nd quarter worth approximately $38,000. Institutional investors own 96.98% of the company’s stock.

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.