Relay Therapeutics (NASDAQ:RLAY) Hits New 12-Month Low at $5.74

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares reached a new 52-week low on Wednesday . The company traded as low as $5.74 and last traded at $5.79, with a volume of 59899 shares traded. The stock had previously closed at $5.90.

Analyst Ratings Changes

A number of equities research analysts have weighed in on RLAY shares. Stifel Nicolaus boosted their target price 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. Leerink Partnrs reissued an “outperform” rating on shares of Relay Therapeutics in a report on Thursday, February 22nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $26.00.

Relay Therapeutics Stock Performance

The stock’s 50 day moving average price is $8.33 and its 200 day moving average price is $8.84. The company has a market capitalization of $814.55 million, a P/E ratio of -2.20 and a beta of 1.63.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.67) EPS for the quarter, beating analysts’ consensus estimates 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 posted ($0.56) EPS. On average, analysts expect 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 institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund boosted its stake in Relay Therapeutics by 3.2% during the fourth quarter. New York State Common Retirement Fund now owns 36,678 shares of the company’s stock worth $404,000 after acquiring an additional 1,127 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Relay Therapeutics by 5.7% during the fourth quarter. Handelsbanken Fonder AB now owns 29,500 shares of the company’s stock worth $325,000 after acquiring an additional 1,600 shares in the last quarter. Swiss National Bank boosted its stake in Relay Therapeutics by 1.2% during the third quarter. Swiss National Bank now owns 173,800 shares of the company’s stock worth $1,462,000 after acquiring an additional 2,000 shares in the last quarter. Intellectus Partners LLC boosted its stake in Relay Therapeutics by 4.1% during the third quarter. Intellectus Partners LLC now owns 50,560 shares of the company’s stock worth $425,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its stake in Relay Therapeutics by 1.4% during the first quarter. Congress Asset Management Co. MA now owns 149,082 shares of the company’s stock worth $1,237,000 after acquiring an additional 2,108 shares in the last quarter. 96.98% of the stock is owned by 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.