Relay Therapeutics (NASDAQ:RLAY) Stock Price Down 9.5%

Relay Therapeutics, Inc. (NASDAQ:RLAYGet Rating)’s stock price fell 9.5% during mid-day trading on Friday . The company traded as low as $21.08 and last traded at $21.12. 16,229 shares changed hands during trading, a decline of 99% from the average session volume of 1,153,342 shares. The stock had previously closed at $23.34.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RLAY. JMP Securities cut their price target on shares of Relay Therapeutics from $50.00 to $35.00 in a research note on Monday, May 9th. Jefferies Financial Group began coverage on Relay Therapeutics in a research report on Monday, June 6th. They set an “underperform” rating and a $13.00 price objective for the company. The Goldman Sachs Group lowered their price objective on Relay Therapeutics from $49.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, May 24th. Finally, HC Wainwright lowered their price objective on Relay Therapeutics from $54.00 to $47.00 in a research report on Tuesday, May 10th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $39.71.

Relay Therapeutics Stock Down 9.4 %

The stock has a fifty day moving average of $17.80 and a 200-day moving average of $22.40. The stock has a market capitalization of $2.30 billion, a price-to-earnings ratio of -5.35 and a beta of 1.44.

Relay Therapeutics (NASDAQ:RLAYGet Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.61) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.02. The firm had revenue of $0.42 million during the quarter. Relay Therapeutics had a negative return on equity of 38.47% and a negative net margin of 15,373.96%. During the same period last year, the company earned ($0.47) earnings per share. On average, equities analysts forecast that Relay Therapeutics, Inc. will post -2.53 EPS for the current fiscal year.

Insider Activity at Relay Therapeutics

In related news, insider Donald A. Bergstrom sold 1,811 shares of the company’s stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $25.57, for a total value of $46,307.27. Following the completion of the transaction, the insider now directly owns 92,493 shares of the company’s stock, valued at $2,365,046.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Donald A. Bergstrom sold 1,811 shares of the stock in a transaction that occurred on Thursday, April 28th. The stock was sold at an average price of $25.57, for a total value of $46,307.27. Following the completion of the sale, the insider now directly owns 92,493 shares of the company’s stock, valued at $2,365,046.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald A. Bergstrom sold 8,000 shares of the stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $20.00, for a total value of $160,000.00. Following the completion of the sale, the insider now directly owns 91,494 shares of the company’s stock, valued at $1,829,880. The disclosure for this sale can be found here. Insiders sold 32,101 shares of company stock valued at $716,381 over the last three months. 4.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Relay Therapeutics

Several large investors have recently modified their holdings of the company. New York State Common Retirement Fund boosted its holdings in shares of Relay Therapeutics by 1.1% in the fourth quarter. New York State Common Retirement Fund now owns 43,692 shares of the company’s stock valued at $1,342,000 after acquiring an additional 492 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Relay Therapeutics by 2.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 30,400 shares of the company’s stock worth $918,000 after purchasing an additional 700 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of Relay Therapeutics by 10.3% during the first quarter. Teacher Retirement System of Texas now owns 8,775 shares of the company’s stock worth $263,000 after purchasing an additional 819 shares during the last quarter. Great West Life Assurance Co. Can raised its stake 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, Vontobel Holding Ltd. raised its stake in shares of Relay Therapeutics by 12.7% during the first quarter. Vontobel Holding Ltd. now owns 7,413 shares of the company’s stock worth $222,000 after purchasing an additional 833 shares during the last quarter.

Relay Therapeutics Company Profile

(Get Rating)

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 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.

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