Relay Therapeutics (NASDAQ:RLAY) Trading Down 4.8% – Time to Sell?

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares were down 4.8% during mid-day trading on Tuesday . The company traded as low as $4.53 and last traded at $4.55. Approximately 111,174 shares were traded during trading, a decline of 96% from the average daily volume of 2,951,053 shares. The stock had previously closed at $4.78.

Wall Street Analyst Weigh In

RLAY has been the topic of several recent research reports. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Relay Therapeutics in a research report on Tuesday. Stifel Nicolaus reiterated a “buy” rating and set a $28.00 target price on shares of Relay Therapeutics in a research report on Monday, September 16th. Leerink Partners reduced their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.50.

Relay Therapeutics Price Performance

The business’s fifty day moving average price is $4.79 and its 200 day moving average price is $6.31. The stock has a market cap of $743.18 million, a P/E ratio of -1.70 and a beta of 1.60.

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

Insiders Place Their Bets

In other news, insider Peter Rahmer sold 16,576 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $4.45, for a total transaction of $73,763.20. Following the transaction, the insider now directly owns 308,754 shares of the company’s stock, valued at $1,373,955.30. This represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas Catinazzo sold 6,802 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the completion of the transaction, the chief financial officer now directly owns 306,391 shares in the company, valued at $1,856,729.46. This trade represents a 2.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,319 shares of company stock worth $781,067. Corporate insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RLAY. EverSource Wealth Advisors LLC purchased a new stake in Relay Therapeutics in the 2nd quarter valued at $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Relay Therapeutics in the third quarter valued at about $63,000. Portland Investment Counsel Inc. bought a new position in shares of Relay Therapeutics during the third quarter valued at about $71,000. Values First Advisors Inc. purchased a new position in Relay Therapeutics during the third quarter worth about $75,000. Finally, Point72 DIFC Ltd bought a new stake in Relay Therapeutics in the 3rd quarter worth about $134,000. 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.