Relay Therapeutics (NASDAQ:RLAY) Trading Down 4.9%

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) traded down 4.9% on Wednesday . The stock traded as low as $6.40 and last traded at $6.41. 512,641 shares were traded during trading, a decline of 53% from the average session volume of 1,088,860 shares. The stock had previously closed at $6.74.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Leerink Partnrs reaffirmed an “outperform” rating on shares of Relay Therapeutics in a research note on Thursday, February 22nd. Stifel Nicolaus raised 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.69.

Relay Therapeutics Trading Down 5.5 %

The company has a fifty day moving average price of $8.79 and a two-hundred day moving average price of $8.96.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, February 22nd. The company reported ($0.67) earnings per share (EPS) for the quarter, beating 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 period in the prior year, the business posted ($0.56) earnings per share. Research analysts expect 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 and hedge funds have recently made changes to their positions in RLAY. Metropolitan Life Insurance Co NY increased its stake in Relay Therapeutics by 15.5% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 5,264 shares of the company’s stock worth $79,000 after purchasing an additional 706 shares in the last quarter. Great West Life Assurance Co. Can increased its stake 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 worth $79,000 after purchasing an additional 819 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Relay Therapeutics by 12.7% during the 1st quarter. Vontobel Holding Ltd. now owns 7,413 shares of the company’s stock worth $222,000 after purchasing an additional 833 shares in the last quarter. Royal Bank of Canada increased its stake in Relay Therapeutics by 198.6% during the 3rd quarter. Royal Bank of Canada now owns 1,287 shares of the company’s stock worth $29,000 after purchasing an additional 856 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Relay Therapeutics by 12.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,897 shares of the company’s stock worth $149,000 after purchasing an additional 1,010 shares in the last quarter. 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.