Relay Therapeutics (NASDAQ:RLAY) Reaches New 1-Year Low at $5.95

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $5.95 and last traded at $6.32, with a volume of 302001 shares. The stock had previously closed at $6.21.

Analyst Ratings Changes

RLAY has been the subject of a number of recent research reports. Leerink Partnrs reissued an “outperform” rating on shares of Relay Therapeutics in a research note on Thursday, February 22nd. Stifel Nicolaus lifted their price target on shares of Relay Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.30.

Relay Therapeutics Price Performance

The company’s fifty day simple moving average is $8.62 and its 200-day simple moving average is $8.91. The firm has a market capitalization of $781.83 million, a PE ratio of -2.13 and a beta of 1.63.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.09. Relay Therapeutics had a negative net margin of 1,263.49% and a negative return on equity of 42.43%. During the same period last year, the company earned ($0.56) EPS. As a group, equities research analysts anticipate that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Relay Therapeutics

A number of large investors have recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Relay Therapeutics during the first quarter valued at $146,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Relay Therapeutics during the first quarter valued at $79,000. TrueMark Investments LLC grew its holdings in shares of Relay Therapeutics by 13.5% during the first quarter. TrueMark Investments LLC now owns 54,445 shares of the company’s stock valued at $452,000 after buying an additional 6,487 shares during the last quarter. Congress Asset Management Co. MA grew its holdings in shares of Relay Therapeutics by 1.4% during the first quarter. Congress Asset Management Co. MA now owns 149,082 shares of the company’s stock valued at $1,237,000 after buying an additional 2,108 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Relay Therapeutics by 25.7% during the first quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock valued at $116,000 after buying an additional 2,850 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

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.