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

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s share price dropped 4.8% during mid-day trading on Tuesday . The stock 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.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Leerink Partners reduced their price objective on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research note on Tuesday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Relay Therapeutics Trading Up 13.0 %

The company’s 50-day moving average is $4.71 and its two-hundred day moving average is $6.28. The firm has a market cap of $720.57 million, a P/E ratio of -1.65 and a beta of 1.60.

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

Insiders Place Their Bets

In other news, CFO Thomas Catinazzo sold 6,802 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 306,391 shares in the company, valued at approximately $1,856,729.46. This trade represents a 2.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Rahmer sold 32,156 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $4.15, for a total transaction of $133,447.40. Following the transaction, the insider now directly owns 357,507 shares of the company’s stock, valued at approximately $1,483,654.05. This represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 162,319 shares of company stock worth $781,067 over the last quarter. 4.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new position in shares of Relay Therapeutics in the second quarter worth approximately $37,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Relay Therapeutics during the 3rd quarter worth $63,000. Portland Investment Counsel Inc. purchased a new position in Relay Therapeutics in the third quarter worth $71,000. Values First Advisors Inc. bought a new position in Relay Therapeutics in the third quarter valued at $75,000. Finally, Point72 DIFC Ltd purchased a new stake in Relay Therapeutics during the third quarter valued at about $134,000. 96.98% of the stock is owned by institutional investors.

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.