Relay Therapeutics (NASDAQ:RLAY) Reaches New 52-Week Low at $5.95

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

Analyst Ratings Changes

Several research firms have issued reports on RLAY. Leerink Partnrs restated an “outperform” rating on shares of Relay Therapeutics in a research note on Thursday, February 22nd. Stifel Nicolaus upped their price objective on shares of Relay Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $23.69.

Relay Therapeutics Price Performance

The company has a 50-day moving average price of $8.74 and a 200-day moving average price of $8.94.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data 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 return on equity of 42.43% and a negative net margin of 1,263.49%. During the same quarter in the previous year, the business earned ($0.56) EPS. As a group, sell-side analysts anticipate that Relay Therapeutics, Inc. will post -2.84 EPS for the current fiscal year.

Hedge Funds Weigh In On Relay Therapeutics

A number of large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in shares of Relay Therapeutics by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 286,886 shares of the company’s stock worth $8,586,000 after acquiring an additional 5,958 shares in the last quarter. MetLife Investment Management LLC increased its stake in Relay Therapeutics by 55.4% during the 1st quarter. MetLife Investment Management LLC now owns 37,962 shares of the company’s stock worth $1,136,000 after buying an additional 13,536 shares during the period. Rhumbline Advisers increased its stake in Relay Therapeutics by 7.8% during the 1st quarter. Rhumbline Advisers now owns 75,438 shares of the company’s stock worth $2,258,000 after buying an additional 5,437 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Relay Therapeutics by 48.9% in the 1st 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, Dimensional Fund Advisors LP acquired a new position in shares of Relay Therapeutics in the 1st quarter valued at about $1,733,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

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.