Relay Therapeutics (NASDAQ:RLAY) Shares Down 4.7% – Here’s What Happened

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s share price traded down 4.7% during trading on Tuesday . The company traded as low as $4.63 and last traded at $4.63. 79,753 shares changed hands during trading, a decline of 95% from the average session volume of 1,458,827 shares. The stock had previously closed at $4.86.

Wall Street Analyst Weigh In

Several equities analysts have commented on RLAY shares. Oppenheimer cut shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. Barclays lifted their price target on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a research note on Tuesday, September 17th. HC Wainwright boosted their price objective on Relay Therapeutics from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group began coverage on Relay Therapeutics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Relay Therapeutics has an average rating of “Moderate Buy” and an average target price of $21.22.

Relay Therapeutics Trading Down 1.2 %

The firm has a market cap of $803.42 million, a PE ratio of -1.86 and a beta of 1.67. The company’s 50-day moving average is $6.29 and its 200 day moving average is $6.91.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same quarter in the previous year, the firm earned ($0.54) EPS. The company’s revenue was down 100.0% compared to the same quarter last year. On average, research analysts predict that Relay Therapeutics, Inc. will post -2.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the sale, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at $1,856,729.46. This represents a 2.17 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new stake in Relay Therapeutics during the 2nd quarter worth $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Relay Therapeutics during the third quarter valued at approximately $63,000. Portland Investment Counsel Inc. acquired a new stake in Relay Therapeutics in the third quarter valued at $71,000. Values First Advisors Inc. acquired a new stake in shares of Relay Therapeutics in the third quarter valued at approximately $75,000. Finally, Virtu Financial LLC bought a new position in shares of Relay Therapeutics in the first quarter valued at about $87,000. Institutional investors own 96.98% of the company’s stock.

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.