Relay Therapeutics (NASDAQ:RLAY) Trading Down 2.7%

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report)'s share price traded down 2.7% during trading on Monday . The stock traded as low as $6.42 and last traded at $6.46. 65,472 shares were traded during mid-day trading, a decline of 94% from the average session volume of 1,141,319 shares. The stock had previously closed at $6.64.

Analysts Set New Price Targets

Several equities analysts have weighed in on RLAY shares. Barclays upgraded shares of Relay Therapeutics from an "equal weight" rating to an "overweight" rating and set a $15.00 target price for the company in a report on Friday, May 10th. JMP Securities reaffirmed a "market outperform" rating and issued a $24.00 target price on shares of Relay Therapeutics in a research note on Monday, May 6th. Oppenheimer reiterated an "outperform" rating and set a $25.00 target price (down previously from $33.00) on shares of Relay Therapeutics in a report on Monday, May 6th. Leerink Partnrs reissued an "outperform" rating on shares of Relay Therapeutics in a report on Thursday, February 22nd. Finally, Stifel Nicolaus increased 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. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $22.20.

Relay Therapeutics Stock Performance

The company has a market capitalization of $899.99 million, a price-to-earnings ratio of -2.54 and a beta of 1.68. The company has a fifty day simple moving average of $7.15 and a two-hundred day simple moving average of $8.81.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.08. The firm had revenue of $10.01 million during the quarter, compared to analyst estimates of $0.12 million. Relay Therapeutics had a negative return on equity of 42.66% and a negative net margin of 1,263.49%. The business's quarterly revenue was up 4327.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.78) earnings per share. As a group, analysts expect that Relay Therapeutics, Inc. will post -2.83 EPS for the current year.

Institutional Trading of Relay Therapeutics

Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new stake in Relay Therapeutics during the 1st quarter worth approximately $79,000. Virtu Financial LLC acquired a new stake in shares of Relay Therapeutics in the first quarter worth $87,000. Victory Capital Management Inc. purchased a new position in shares of Relay Therapeutics in the 4th quarter valued at $126,000. Quest Partners LLC acquired a new position in shares of Relay Therapeutics during the 4th quarter valued at $147,000. Finally, Los Angeles Capital Management LLC boosted its position in Relay Therapeutics by 25.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company's stock worth $116,000 after purchasing an additional 2,850 shares during the period. 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.