Relay Therapeutics (NASDAQ:RLAY) Sets New 52-Week Low at $5.95

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) reached a new 52-week low 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.

Wall Street Analysts Forecast Growth

A number of brokerages have 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 price target on Relay Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $23.69.

Relay Therapeutics Trading Up 1.0 %

The business’s 50-day moving average is $8.74 and its 200-day moving average is $8.94.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Thursday, February 22nd. The company reported ($0.67) earnings per share for the quarter, beating 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 last year, the business posted ($0.56) EPS. Equities analysts anticipate that Relay Therapeutics, Inc. will post -2.84 EPS for the current fiscal year.

Institutional Investors Weigh In On Relay Therapeutics

Several large investors have recently added to or reduced their stakes in RLAY. Royal Bank of Canada grew its position in shares of Relay Therapeutics by 198.6% in the 3rd quarter. Royal Bank of Canada now owns 1,287 shares of the company’s stock valued at $29,000 after buying an additional 856 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in Relay Therapeutics by 48.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,494 shares of the company’s stock valued at $79,000 after acquiring an additional 819 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Relay Therapeutics during the second quarter worth about $39,000. Metropolitan Life Insurance Co NY boosted its position in shares of Relay Therapeutics by 15.5% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 5,264 shares of the company’s stock worth $79,000 after acquiring an additional 706 shares during the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of Relay Therapeutics by 12.7% in the first quarter. Vontobel Holding Ltd. now owns 7,413 shares of the company’s stock worth $222,000 after acquiring an additional 833 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.