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

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) hit a new 52-week low 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.

Analyst Upgrades and Downgrades

RLAY has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective 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 restated an "outperform" rating on shares of Relay Therapeutics in a report on Thursday, February 22nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $26.00.

Relay Therapeutics Stock Performance

The company has a market cap of $832.99 million, a P/E ratio of -2.27 and a beta of 1.63. The firm has a 50 day moving average price of $8.42 and a two-hundred day moving average price of $8.86.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported ($0.67) 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 period in the prior year, the company posted ($0.56) earnings per share. On average, sell-side analysts predict that Relay Therapeutics, Inc. will post -2.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. New York State Common Retirement Fund grew its stake in Relay Therapeutics by 3.2% in the 4th quarter. New York State Common Retirement Fund now owns 36,678 shares of the company's stock worth $404,000 after buying an additional 1,127 shares in the last quarter. Handelsbanken Fonder AB increased its stake in Relay Therapeutics by 5.7% in the fourth quarter. Handelsbanken Fonder AB now owns 29,500 shares of the company's stock valued at $325,000 after acquiring an additional 1,600 shares during the last quarter. Swiss National Bank raised its position in Relay Therapeutics by 1.2% during the third quarter. Swiss National Bank now owns 173,800 shares of the company's stock valued at $1,462,000 after purchasing an additional 2,000 shares in the last quarter. Intellectus Partners LLC lifted its stake in Relay Therapeutics by 4.1% during the third quarter. Intellectus Partners LLC now owns 50,560 shares of the company's stock worth $425,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Congress Asset Management Co. MA boosted its holdings in shares of Relay Therapeutics by 1.4% in the 1st quarter. Congress Asset Management Co. MA now owns 149,082 shares of the company's stock worth $1,237,000 after purchasing an additional 2,108 shares in the last quarter. 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.