Relay Therapeutics (NASDAQ:RLAY) Sets New 12-Month Low at $5.95

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) 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. The stock had previously closed at $6.21.

Analysts Set New Price Targets

Several research firms recently weighed in on RLAY. Stifel Nicolaus increased their price target on shares of Relay Therapeutics from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. Leerink Partnrs restated an "outperform" rating on shares of Relay Therapeutics in a research report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Relay Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $23.69.

Relay Therapeutics Price Performance

The firm has a market capitalization of $801.51 million, a PE ratio of -2.18 and a beta of 1.63. The company's fifty day simple moving average is $8.68 and its 200 day simple moving average is $8.93.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings data on Thursday, February 22nd. The company reported ($0.67) EPS for the quarter, beating the consensus estimate 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 firm earned ($0.56) EPS. On average, analysts anticipate that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Relay Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in Relay Therapeutics by 198.6% during the third quarter. Royal Bank of Canada now owns 1,287 shares of the company's stock valued at $29,000 after purchasing an additional 856 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Relay Therapeutics by 48.9% in the first quarter. Great West Life Assurance Co. Can now owns 2,494 shares of the company's stock worth $79,000 after buying an additional 819 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Relay Therapeutics in the second quarter worth about $39,000. Metropolitan Life Insurance Co NY lifted its holdings in shares of Relay Therapeutics by 15.5% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 5,264 shares of the company's stock worth $79,000 after buying an additional 706 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its holdings in shares of Relay Therapeutics by 12.7% in the first quarter. Vontobel Holding Ltd. now owns 7,413 shares of the company's stock worth $222,000 after buying an additional 833 shares in the last quarter. 96.98% of the stock is owned by hedge funds and other 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.