Relay Therapeutics Inc (NASDAQ:RLAY) shares are trading lower by 17.8% to $7.40 during Wednesday's session after the company priced its $200 million offering.

The offering of 28.57 million shares of common stock at $7.00 per share is expected to raise approximately $200 million before fees. The company has also granted underwriters a 30-day option to buy an additional 4.29 million shares. Goldman Sachs, TD Cowen, Stifel and BofA Securities are leading the offering, with Raymond James as co-manager.

The offering is expected to close around September 12, pending standard closing conditions.

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Should I Sell My RLAY Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Relay Therapeutics have decreased by 20.97% in the past year. An investor who bought shares of Relay Therapeutics at the beginning of the year would take a loss of $4.36 per share if they sold it today. The stock has risen 14.33% over the past month, meaning an investor who bought shares on Aug. 1 would see a capital loss of $0.13.

Relay Therapeutics shares have an all-time high of $37.41, representing 398.8% upside from current levels.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Relay Therapeutics stock currently has an RSI of 75.61, indicating overbought conditions.

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RLAY has a 52-week high of $12.14 and a 52-week low of $5.70.