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Relay Therapeutics Inc. (NASDAQ:RLAY) is one of the 10 Stocks Reeling From Huge Losses.

Relay Therapeutics dropped for a second day on Tuesday, slashing 12.84 percent to finish at $13.03 apiece, as investors appeared to have taken profits after already jumping by 74 percent this month, thanks to positive data from its cancer treatment candidate, Zovegalisib.

On Monday, Relay Therapeutics Inc. (NASDAQ:RLAY) announced that it would officially kick off the third phase of its clinical study for zovegalisib in combination with atirmociclib—Pfizer’s investigational, potential first-in-class CDK4 inhibitor—to test their efficacy in treating patients with PI3Kα-mutated, HR+/HER2- metastatic breast cancer.

For illustration purposes only. Photo by RDNE on Pexels

Zovegalisib is currently being evaluated in the ReDiscover trial, which aims to test the latter’s combination with fulvestrant and CDK inhibitors.

As of April 13, 69 total patients were enrolled, with 62 patients at or below the potential Phase 3 dose, and 34 patients with measurable disease evaluable for response.

Meanwhile, Relay Therapeutics Inc. (NASDAQ:RLAY) received bullish coverage from two analysts. Oppenheimer raised its price target to $18 from $14, while maintaining an outperform rating, while Citizens upgraded the stock to $19 from $17, while maintaining a market outperform rating.

While we acknowledge the potential of RLAY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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