Relay Therapeutics (NASDAQ:RLAY) Sets New 52-Week Low - Time to Sell?

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) shares reached a new 52-week low during trading on Tuesday . The company traded as low as $4.11 and last traded at $4.16, with a volume of 181147 shares traded. The stock had previously closed at $4.18.

Wall Street Analyst Weigh In

RLAY has been the subject of several recent research reports. Leerink Partners dropped their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, December 4th. The Goldman Sachs Group began coverage on Relay Therapeutics in a report on Tuesday, September 10th. They set a "buy" rating and a $20.00 target price on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. Jefferies Financial Group raised shares of Relay Therapeutics from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $10.60 to $16.00 in a research note on Tuesday, September 10th. Finally, Stifel Nicolaus reaffirmed a "buy" rating and issued a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $20.50.

Relay Therapeutics Stock Performance

The firm has a market capitalization of $689.62 million, a P/E ratio of -1.58 and a beta of 1.59. The firm's 50-day moving average is $5.04 and its 200 day moving average is $6.45.

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

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 6,802 shares of the firm's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the sale, the chief financial officer now directly owns 306,391 shares in the company, valued at approximately $1,856,729.46. This trade represents a 2.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $5.00, for a total value of $500,000.00. Following the transaction, the chief executive officer now owns 574,548 shares of the company's stock, valued at $2,872,740. The trade was a 14.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,587 shares of company stock valued at $573,856. 4.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RLAY. EverSource Wealth Advisors LLC acquired a new position in shares of Relay Therapeutics in the second quarter valued at approximately $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Relay Therapeutics in the 3rd quarter valued at $63,000. Portland Investment Counsel Inc. acquired a new position in Relay Therapeutics in the 3rd quarter valued at $71,000. Values First Advisors Inc. bought a new position in Relay Therapeutics during the 3rd quarter worth $75,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Relay Therapeutics during the third quarter worth $134,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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.