Relay Therapeutics (NASDAQ:RLAY) Hits New 12-Month Low - Should You Sell?

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) shares hit a new 52-week low on Friday . The company traded as low as $4.00 and last traded at $4.40, with a volume of 8699373 shares. The stock had previously closed at $4.83.

Analyst Ratings Changes

A number of brokerages recently commented on RLAY. HC Wainwright decreased their target price on shares of Relay Therapeutics from $20.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, December 4th. Leerink Partners lowered their target price on Relay Therapeutics from $19.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, December 4th. JMP Securities restated a "market outperform" rating and set a $21.00 target price on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and issued a $28.00 price target on shares of Relay Therapeutics in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Relay Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $20.50.

Relay Therapeutics Trading Down 7.9 %

The business's 50 day moving average price is $4.81 and its two-hundred day moving average price is $6.32. The stock has a market cap of $744.85 million, a P/E ratio of -1.70 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same period in the prior year, the firm earned ($0.54) EPS. The business's revenue was down 100.0% on a year-over-year basis. As a group, analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Peter Rahmer sold 32,156 shares of Relay Therapeutics stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $4.15, for a total value of $133,447.40. Following the completion of the transaction, the insider now owns 357,507 shares of the company's stock, valued at $1,483,654.05. The trade was a 8.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the sale, the chief financial officer now directly owns 306,391 shares in the company, valued at $1,856,729.46. This trade represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,319 shares of company stock worth $781,067. 4.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC purchased a new position in Relay Therapeutics in the 2nd quarter worth approximately $37,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Relay Therapeutics in the 3rd quarter worth $63,000. Portland Investment Counsel Inc. purchased a new position in shares of Relay Therapeutics in the third quarter worth $71,000. Values First Advisors Inc. bought a new position in shares of Relay Therapeutics during the third quarter valued at $75,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Relay Therapeutics during the third quarter valued at $134,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

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.