Relay Therapeutics (NASDAQ:RLAY) Hits New 52-Week Low – Should You Sell?

Relay Therapeutics, Inc. (NASDAQ:RLAY) hit a new 52-week low on Thursday . The stock traded as low as $3.77 and last traded at $3.81, with a volume of 4533737 shares traded. The stock had previously closed at $4.34.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on RLAY shares. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a research note on Thursday, December 12th. Leerink Partners cut 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 reaffirmed a “buy” rating and set a $16.00 target price 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.50.

Relay Therapeutics Trading Up 3.2 %

The company’s 50-day moving average price is $4.64 and its two-hundred day moving average price is $6.25. The company has a market cap of $746.51 million, a P/E ratio of -1.71 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.14. The firm’s revenue was down 100.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.54) earnings per share. Equities analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 100,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $5.00, for a total transaction of $500,000.00. Following the sale, the chief executive officer now directly owns 574,548 shares of the company’s stock, valued at $2,872,740. The trade was a 14.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Rahmer sold 16,576 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.45, for a total value of $73,763.20. Following the completion of the sale, the insider now directly owns 308,754 shares of the company’s stock, valued at approximately $1,373,955.30. This trade represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,319 shares of company stock worth $781,067 in the last quarter. 4.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors have recently bought and sold shares of RLAY. EverSource Wealth Advisors LLC acquired a new stake in shares of Relay Therapeutics during the second quarter worth approximately $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Relay Therapeutics in the third quarter worth $63,000. Portland Investment Counsel Inc. purchased a new stake in shares of Relay Therapeutics during the third quarter worth $71,000. Values First Advisors Inc. acquired a new stake in Relay Therapeutics during the third quarter valued at $75,000. Finally, Point72 DIFC Ltd purchased a new position in Relay Therapeutics in the third quarter valued at about $134,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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.