By otakuyassine3@gmail.com 
Relay Therapeutics, Inc. (NASDAQ:RLAY – Get Free Report) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 14,950,000 shares, an increase of 23.8% from the December 15th total of 12,080,000 shares. Based on an average trading volume of 2,080,000 shares, the days-to-cover ratio is presently 7.2 days.
Relay Therapeutics Stock Performance
Relay Therapeutics stock traded up $0.14 during trading on Friday, reaching $4.46. 3,391,665 shares of the company’s stock were exchanged, compared to its average volume of 3,493,742. Relay Therapeutics has a 52-week low of $3.50 and a 52-week high of $11.16. The firm has a market cap of $746.53 million, a price-to-earnings ratio of -1.71 and a beta of 1.60. The company’s 50-day moving average is $4.67 and its two-hundred day moving average is $6.26.
Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. The firm’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same period last year, the business posted ($0.54) earnings per share. Analysts anticipate that Relay Therapeutics will post -2.55 EPS for the current year.
Analyst Ratings Changes
RLAY has been the topic of several research analyst reports. JMP Securities reissued a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a research report on Thursday, December 12th. Leerink Partners decreased their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Finally, HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a report on Tuesday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.50.
Read Our Latest Stock Report on Relay Therapeutics
Insider Buying and Selling
In related news, insider Peter Rahmer sold 16,576 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.45, for a total transaction of $73,763.20. Following the transaction, the insider now directly owns 308,754 shares in the company, valued at approximately $1,373,955.30. This represents a 5.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas Catinazzo sold 6,802 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the sale, the chief financial officer now directly owns 306,391 shares in the company, valued at approximately $1,856,729.46. The trade was a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 162,319 shares of company stock worth $781,067. 4.32% of the stock is owned by insiders.
Institutional Trading of Relay Therapeutics
A number of hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new stake in Relay Therapeutics during the 2nd quarter valued at $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Relay Therapeutics in the 3rd quarter valued at about $63,000. Portland Investment Counsel Inc. acquired a new stake in shares of Relay Therapeutics during the third quarter valued at about $71,000. Values First Advisors Inc. purchased a new stake in shares of Relay Therapeutics during the third quarter worth about $75,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Relay Therapeutics during the third quarter worth about $134,000. Hedge funds and other 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.
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