Relay Therapeutics (NASDAQ:RLAY) Sets New 52-Week Low – Should You Sell?

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $3.77 and last traded at $3.81, with a volume of 4533737 shares trading hands. The stock had previously closed at $4.34.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RLAY. HC Wainwright reiterated a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a report on Tuesday. Leerink Partners decreased their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.50.

Relay Therapeutics Stock Performance

The business’s 50-day simple moving average is $4.76 and its 200-day simple moving average is $6.29.

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

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 100,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $5.00, for a total transaction of $500,000.00. Following the sale, the chief executive officer now directly owns 574,548 shares of the company’s stock, valued at approximately $2,872,740. This represents a 14.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Peter Rahmer sold 16,576 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.45, for a total transaction of $73,763.20. Following the sale, the insider now owns 308,754 shares in the company, valued at approximately $1,373,955.30. This represents a 5.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 162,319 shares of company stock valued at $781,067 over the last ninety days. Company insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors have recently modified their holdings of RLAY. EverSource Wealth Advisors LLC purchased a new position in Relay Therapeutics during the second quarter worth approximately $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Relay Therapeutics during the 3rd quarter valued at approximately $63,000. Portland Investment Counsel Inc. acquired a new stake in Relay Therapeutics in the 3rd quarter valued at $71,000. Values First Advisors Inc. purchased a new stake in Relay Therapeutics in the 3rd quarter worth $75,000. Finally, Point72 DIFC Ltd acquired a new position in Relay Therapeutics during the third quarter worth $134,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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.