Relay Therapeutics (NASDAQ:RLAY) Stock Price Down 6.7% – Should You Sell?

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s share price traded down 6.7% during mid-day trading on Wednesday . The company traded as low as $7.94 and last traded at $7.93. 348,337 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 2,208,316 shares. The stock had previously closed at $8.50.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company upgraded shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $6.00 to $13.00 in a research note on Friday, December 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, January 9th. Finally, Oppenheimer upgraded Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price objective for the company in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.57.

Relay Therapeutics Trading Down 8.4%

The business’s 50-day simple moving average is $7.90 and its 200 day simple moving average is $5.92. The company has a market capitalization of $1.35 billion, a P/E ratio of -4.45 and a beta of 1.55.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). As a group, sell-side analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 43,168 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $7.82, for a total value of $337,573.76. Following the completion of the transaction, the chief executive officer directly owned 661,041 shares in the company, valued at $5,169,340.62. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 4.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC raised its stake in Relay Therapeutics by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $34,000 after purchasing an additional 5,000 shares during the period. Quinn Opportunity Partners LLC acquired a new position in Relay Therapeutics during the second quarter valued at $35,000. May Hill Capital LLC purchased a new stake in Relay Therapeutics in the 2nd quarter worth about $38,000. Focus Partners Advisor Solutions LLC acquired a new stake in Relay Therapeutics during the 2nd quarter worth about $39,000. Finally, Quadrant Capital Group LLC boosted its position in Relay Therapeutics by 245.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 11,791 shares of the company’s stock worth $41,000 after acquiring an additional 8,374 shares during the period. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.