Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) was down 2.5% during trading on Tuesday . The company traded as low as $4.17 and last traded at $4.23. Approximately 201,013 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,565,180 shares. The stock had previously closed at $4.34.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on RLAY shares. Oppenheimer downgraded shares of Relay Therapeutics from an "outperform" rating to a "market perform" rating in a research note on Tuesday, September 10th. The Goldman Sachs Group assumed coverage on Relay Therapeutics in a report on Tuesday, September 10th. They issued a "buy" rating and a $20.00 target price on the stock. Stifel Nicolaus reaffirmed a "buy" rating and set a $28.00 price target on shares of Relay Therapeutics in a report on Monday, September 16th. Bank of America boosted their price objective on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a "buy" rating in a research note on Tuesday, September 10th. Finally, HC Wainwright lowered their target price on shares of Relay Therapeutics from $20.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $20.50.
View Our Latest Report on RLAY
Relay Therapeutics Stock Performance
The firm has a market cap of $708.03 million, a price-to-earnings ratio of -1.62 and a beta of 1.59. The business has a fifty day moving average of $5.33 and a two-hundred day moving average of $6.59.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its earnings results 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 last year, the business posted ($0.54) earnings per share. The firm's quarterly revenue was down 100.0% on a year-over-year basis. On average, equities research analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.
Insiders Place Their Bets
In related news, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the completion of the sale, the chief financial officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjiv Patel sold 100,000 shares of the company's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $5.00, for a total transaction of $500,000.00. Following the completion of the transaction, the chief executive officer now owns 574,548 shares in the company, valued at approximately $2,872,740. This trade represents a 14.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 108,423 shares of company stock worth $551,043. Insiders own 4.32% of the company's stock.
Hedge Funds Weigh In On Relay Therapeutics
A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new position in Relay Therapeutics in the second quarter valued at $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Relay Therapeutics during the 3rd quarter valued at about $63,000. Portland Investment Counsel Inc. purchased a new position in shares of Relay Therapeutics during the 3rd quarter worth about $71,000. Values First Advisors Inc. acquired a new stake in shares of Relay Therapeutics in the third quarter worth approximately $75,000. Finally, Point72 DIFC Ltd purchased a new stake in Relay Therapeutics in the third quarter valued at approximately $134,000. Institutional investors and hedge funds own 96.98% of the company's stock.
About Relay Therapeutics
(
Get Free Report)
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.
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