Relay Therapeutics (NASDAQ:RLAY) Shares Down 5.4% - Should You Sell?

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) traded down 5.4% during trading on Tuesday . The stock traded as low as $3.07 and last traded at $3.09. 1,028,362 shares changed hands during trading, a decline of 48% from the average session volume of 1,981,354 shares. The stock had previously closed at $3.26.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group decreased their price target on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Stifel Nicolaus dropped their price target on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. HC Wainwright restated a "buy" rating and issued a $16.00 price objective on shares of Relay Therapeutics in a report on Friday, March 7th. Finally, Wells Fargo & Company started coverage on Relay Therapeutics in a report on Thursday, April 17th. They set an "equal weight" rating and a $4.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Relay Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $18.36.

Relay Therapeutics Price Performance

The stock has a 50-day moving average price of $2.95 and a 200-day moving average price of $4.17. The firm has a market capitalization of $554.09 million, a PE ratio of -1.25 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.12. As a group, equities research analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 140,182 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $539,700.70. Following the completion of the transaction, the chief executive officer now owns 625,948 shares in the company, valued at approximately $2,409,899.80. This trade represents a 18.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Rahmer sold 10,739 shares of the company's stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $3.00, for a total value of $32,217.00. Following the sale, the insider now directly owns 390,081 shares in the company, valued at approximately $1,170,243. This represents a 2.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 309,826 shares of company stock worth $1,099,380 in the last ninety days. 4.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RLAY. Vanguard Group Inc. raised its stake in Relay Therapeutics by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company's stock worth $61,924,000 after acquiring an additional 566,595 shares during the period. Tang Capital Management LLC raised its position in shares of Relay Therapeutics by 126.1% during the 4th quarter. Tang Capital Management LLC now owns 8,068,058 shares of the company's stock worth $33,240,000 after purchasing an additional 4,500,000 shares during the period. Norges Bank bought a new stake in shares of Relay Therapeutics in the 4th quarter worth approximately $23,821,000. JPMorgan Chase & Co. boosted its position in Relay Therapeutics by 39.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company's stock valued at $39,064,000 after purchasing an additional 1,554,115 shares during the period. Finally, Geode Capital Management LLC grew its stake in Relay Therapeutics by 10.9% during the 4th quarter. Geode Capital Management LLC now owns 3,030,157 shares of the company's stock worth $12,487,000 after buying an additional 297,887 shares during the last quarter. 96.98% of the stock is currently owned by 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.