Relay Therapeutics (NASDAQ:RLAY) Trading Down 5.2%

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s share price traded down 5.2% on Tuesday . The stock traded as low as $6.69 and last traded at $6.69. 305,871 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 1,127,218 shares. The stock had previously closed at $7.06.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RLAY. Stifel Nicolaus boosted their price objective on Relay Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. JMP Securities restated a “market outperform” rating and issued a $24.00 price target on shares of Relay Therapeutics in a research note on Monday. Oppenheimer reiterated an “outperform” rating and set a $25.00 price objective (down previously from $33.00) on shares of Relay Therapeutics in a research report on Monday. Finally, Leerink Partnrs reissued an “outperform” rating on shares of Relay Therapeutics in a report on Thursday, February 22nd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $24.00.

Relay Therapeutics Stock Performance

The stock has a market capitalization of $894.67 million, a price-to-earnings ratio of -2.54 and a beta of 1.68. The company has a fifty day simple moving average of $7.80 and a two-hundred day simple moving average of $8.80.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.08. The firm had revenue of $10.01 million for the quarter, compared to the consensus estimate of $0.12 million. Relay Therapeutics had a negative net margin of 1,263.49% and a negative return on equity of 42.66%. The business’s revenue for the quarter was up 4327.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.78) earnings per share. As a group, equities analysts anticipate that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in RLAY. Vanguard Group Inc. lifted its stake in shares of Relay Therapeutics by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,650,387 shares of the company’s stock valued at $117,261,000 after acquiring an additional 98,025 shares during the last quarter. Bellevue Group AG raised its holdings in Relay Therapeutics by 21.5% in the 4th quarter. Bellevue Group AG now owns 5,936,082 shares of the company’s stock valued at $65,356,000 after buying an additional 1,051,082 shares during the last quarter. BVF Inc. IL boosted its position in Relay Therapeutics by 67.8% during the 4th quarter. BVF Inc. IL now owns 3,970,045 shares of the company’s stock worth $43,710,000 after buying an additional 1,604,240 shares during the period. Norges Bank bought a new stake in Relay Therapeutics during the 4th quarter worth approximately $33,789,000. Finally, Finepoint Capital LP increased its position in Relay Therapeutics by 51.3% in the 4th quarter. Finepoint Capital LP now owns 1,317,870 shares of the company’s stock valued at $14,510,000 after acquiring an additional 447,000 shares during the period. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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.