Relay Therapeutics (NASDAQ:RLAY) Stock Price Down 4.8% - Time to Sell?

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) shares were down 4.8% during mid-day trading on Friday . The company traded as low as $5.32 and last traded at $5.33. Approximately 181,616 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,438,840 shares. The stock had previously closed at $5.60.

Analyst Ratings Changes

RLAY has been the topic of several research analyst reports. Jefferies Financial Group raised shares of Relay Therapeutics from a "hold" rating to a "buy" rating and raised their target price for the company from $10.60 to $16.00 in a research note on Tuesday, September 10th. The Goldman Sachs Group initiated 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. Barclays increased their price target on Relay Therapeutics from $14.00 to $17.00 and gave the company an "overweight" rating in a research note on Tuesday, September 10th. JMP Securities reissued a "market outperform" rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, September 17th. Finally, HC Wainwright raised their target price on Relay Therapeutics from $19.00 to $20.00 and gave the company a "buy" rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Relay Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $21.22.

Relay Therapeutics Stock Down 9.1 %

The business's 50 day simple moving average is $6.74 and its 200 day simple moving average is $7.00. The company has a market capitalization of $681.50 million, a PE ratio of -2.01 and a beta of 1.67.

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 the consensus estimate of ($0.77) by $0.14. During the same quarter in the previous year, the company posted ($0.54) earnings per share. The company's quarterly revenue was down 100.0% on a year-over-year basis. On average, analysts anticipate that Relay Therapeutics, Inc. will post -2.61 earnings per share for the current fiscal year.

Insider Activity at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 6,802 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the transaction, the chief financial officer now directly owns 306,391 shares in the company, valued at $1,856,729.46. The trade was a 2.17 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 4.32% of the stock is owned by insiders.

Institutional Trading of Relay Therapeutics

A number of institutional investors have recently bought and sold shares of the company. American International Group Inc. raised its stake in shares of Relay Therapeutics by 4.0% during the 1st quarter. American International Group Inc. now owns 46,686 shares of the company's stock worth $387,000 after purchasing an additional 1,810 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Relay Therapeutics by 6.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company's stock valued at $292,000 after acquiring an additional 2,547 shares during the last quarter. ProShare Advisors LLC grew its position in Relay Therapeutics by 14.9% in the first quarter. ProShare Advisors LLC now owns 26,214 shares of the company's stock worth $218,000 after acquiring an additional 3,394 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Relay Therapeutics by 7.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 54,917 shares of the company's stock worth $456,000 after purchasing an additional 3,684 shares during the last quarter. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Relay Therapeutics during the 2nd quarter worth $37,000. Institutional investors and hedge funds own 96.98% of the company's stock.

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.

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