Relay Therapeutics (NASDAQ:RLAY) Reaches New 1-Year Low at $5.74

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

Analyst Upgrades and Downgrades

RLAY has been the subject of a number of recent research reports. Stifel Nicolaus increased their target price on Relay Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Leerink Partnrs reaffirmed 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.com, the company has an average rating of “Buy” and a consensus target price of $26.00.

Relay Therapeutics Stock Performance

The firm’s 50 day simple moving average is $8.49 and its 200-day simple moving average is $8.88. The company has a market capitalization of $831.68 million, a price-to-earnings ratio of -2.24 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, topping analysts’ consensus estimates 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 period last year, the firm earned ($0.56) EPS. As a group, equities analysts anticipate that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Relay Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Algert Global LLC increased its holdings in shares of Relay Therapeutics by 61.6% in the third quarter. Algert Global LLC now owns 200,823 shares of the company’s stock worth $1,689,000 after acquiring an additional 76,573 shares in the last quarter. Trexquant Investment LP grew its holdings in shares of Relay Therapeutics by 926.5% during the 3rd quarter. Trexquant Investment LP now owns 198,671 shares of the company’s stock valued at $1,671,000 after purchasing an additional 179,317 shares during the last quarter. Swiss National Bank lifted its holdings in shares of 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 purchasing an additional 2,000 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Relay Therapeutics by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 714,805 shares of the company’s stock valued at $6,012,000 after buying an additional 42,411 shares during the period. Finally, Deutsche Bank AG raised its holdings in shares of Relay Therapeutics by 13.4% during the third quarter. Deutsche Bank AG now owns 51,779 shares of the company’s stock valued at $435,000 after purchasing an additional 6,119 shares during the period. Institutional investors and hedge funds own 96.98% of the company’s stock.

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.