Relay Therapeutics (NASDAQ:RLAY) Reaches New 1-Year Low at $5.95

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s stock price hit a new 52-week low during trading on Thursday . The company traded as low as $5.95 and last traded at $6.32, with a volume of 302001 shares. The stock had previously closed at $6.21.

Analysts Set New Price Targets

A number of brokerages have recently commented on RLAY. Leerink Partnrs reissued an “outperform” rating on shares of Relay Therapeutics in a report on Thursday, February 22nd. Stifel Nicolaus lifted their target price on shares of Relay Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Relay Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

Relay Therapeutics Price Performance

The firm’s 50 day moving average price is $8.62 and its 200-day moving average price is $8.91. The stock has a market cap of $781.83 million, a P/E ratio of -2.13 and a beta of 1.63.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, February 22nd. The company reported ($0.67) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.09. Relay Therapeutics had a negative net margin of 1,263.49% and a negative return on equity of 42.43%. During the same period in the prior year, the firm earned ($0.56) EPS. On average, analysts expect that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Mesirow Financial Investment Management Inc. purchased a new position in shares of Relay Therapeutics during the first quarter valued at approximately $146,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Relay Therapeutics during the first quarter valued at approximately $79,000. TrueMark Investments LLC raised its holdings in shares of Relay Therapeutics by 13.5% during the first quarter. TrueMark Investments LLC now owns 54,445 shares of the company’s stock valued at $452,000 after purchasing an additional 6,487 shares during the last quarter. Congress Asset Management Co. MA raised its holdings in shares of Relay Therapeutics by 1.4% during the first quarter. Congress Asset Management Co. MA now owns 149,082 shares of the company’s stock valued at $1,237,000 after purchasing an additional 2,108 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Relay Therapeutics by 25.7% during the first quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock valued at $116,000 after purchasing an additional 2,850 shares during the last quarter. 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.