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

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RLAY. Leerink Partnrs reiterated an “outperform” rating on shares of Relay Therapeutics in a research report on Thursday, February 22nd. Stifel Nicolaus upped their target price on shares of Relay Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $26.00.

Relay Therapeutics Price Performance

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

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, February 22nd. The company reported ($0.67) earnings per share for the quarter, topping 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 quarter in the prior year, the business earned ($0.56) earnings per share. As a group, equities research analysts expect that Relay Therapeutics, Inc. will post -2.84 EPS for the current year.

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Relay Therapeutics in the first quarter worth $79,000. Los Angeles Capital Management LLC raised its holdings in Relay Therapeutics by 25.7% in the first quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after purchasing an additional 2,850 shares during the period. Victory Capital Management Inc. acquired a new stake in Relay Therapeutics in the fourth quarter worth $126,000. Aigen Investment Management LP acquired a new stake in Relay Therapeutics in the third quarter worth $142,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in Relay Therapeutics in the first quarter worth $146,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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.