Relay Therapeutics (NASDAQ:RLAY) Sets New 1-Year Low – Should You Sell?

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) reached a new 52-week low during trading on Friday . The stock traded as low as $4.00 and last traded at $4.40, with a volume of 8699373 shares. The stock had previously closed at $4.83.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RLAY shares. Stifel Nicolaus restated a “buy” rating and set a $28.00 price target on shares of Relay Therapeutics in a report on Monday, September 16th. HC Wainwright decreased their price target on Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. Finally, Leerink Partners lowered their price target on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $20.50.

Relay Therapeutics Stock Performance

The firm’s 50-day simple moving average is $4.81 and its 200-day simple moving average is $6.32. The company has a market capitalization of $744.85 million, a price-to-earnings ratio of -1.70 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.14. During the same period last year, the company earned ($0.54) EPS. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. Equities research analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In other news, insider Peter Rahmer sold 32,156 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $4.15, for a total value of $133,447.40. Following the sale, the insider now directly owns 357,507 shares in the company, valued at approximately $1,483,654.05. This represents a 8.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sanjiv Patel sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $5.00, for a total value of $500,000.00. Following the completion of the transaction, the chief executive officer now directly owns 574,548 shares of the company’s stock, valued at approximately $2,872,740. The trade was a 14.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,319 shares of company stock worth $781,067. 4.32% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Relay Therapeutics

Several large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new position in Relay Therapeutics in the second quarter valued at about $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Relay Therapeutics in the 3rd quarter worth approximately $63,000. Portland Investment Counsel Inc. bought a new stake in Relay Therapeutics during the 3rd quarter worth approximately $71,000. Values First Advisors Inc. acquired a new stake in Relay Therapeutics during the 3rd quarter valued at $75,000. Finally, Point72 DIFC Ltd bought a new position in Relay Therapeutics in the 3rd quarter valued at $134,000. Institutional investors 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.