Relay Therapeutics (NASDAQ:RLAY) Hits New 52-Week Low at $5.74

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) reached a new 52-week low during trading on Wednesday . The company traded as low as $5.74 and last traded at $5.79, with a volume of 59899 shares. The stock had previously closed at $5.90.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Leerink Partnrs reissued an “outperform” rating on shares of Relay Therapeutics in a research report on Thursday, February 22nd. Stifel Nicolaus increased 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. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $26.00.

Relay Therapeutics Price Performance

The company has a market capitalization of $831.68 million, a price-to-earnings ratio of -2.24 and a beta of 1.63. The business has a fifty day moving average price of $8.49 and a 200 day moving average price of $8.88.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data 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 return on equity of 42.43% and a negative net margin of 1,263.49%. During the same quarter last year, the company earned ($0.56) earnings per share. As a group, sell-side analysts predict that Relay Therapeutics, Inc. will post -2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new stake in Relay Therapeutics during the first quarter worth $79,000. Los Angeles Capital Management LLC increased its stake in shares of Relay Therapeutics by 25.7% in the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock valued at $116,000 after acquiring an additional 2,850 shares in the last quarter. Victory Capital Management Inc. acquired a new position in shares of Relay Therapeutics during the 4th quarter valued at $126,000. Aigen Investment Management LP bought a new position in Relay Therapeutics during the third quarter worth $142,000. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in Relay Therapeutics in the first quarter worth $146,000. 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.