Relay Therapeutics (NASDAQ:RLAY) Shares Down 6.1% – Time to Sell?

Relay Therapeutics, Inc. (NASDAQ:RLAY) dropped 6.1% during trading on Thursday . The company traded as low as $14.32 and last traded at $14.3610. Approximately 1,716,832 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 3,141,129 shares. The stock had previously closed at $15.30.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RLAY. Wall Street Zen lowered shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. HC Wainwright raised their target price on shares of Relay Therapeutics from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Citizens Jmp lifted their price target on shares of Relay Therapeutics from $19.00 to $21.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 20th. UBS Group set a $26.00 price target on Relay Therapeutics in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group increased their price objective on Relay Therapeutics from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Relay Therapeutics has a consensus rating of “Buy” and a consensus target price of $23.30.

Relay Therapeutics Stock Performance

The company has a market capitalization of $2.79 billion, a P/E ratio of -9.27 and a beta of 1.75. The company’s fifty day simple moving average is $13.42 and its 200-day simple moving average is $10.20.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The firm had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.58 million. On average, sell-side analysts predict that Relay Therapeutics, Inc. will post -1.59 EPS for the current year.

Insiders Place Their Bets

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 17,717 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $12.86, for a total transaction of $227,840.62. Following the completion of the sale, the chief financial officer owned 195,178 shares in the company, valued at $2,509,989.08. This represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 40,449 shares of company stock worth $532,889 in the last ninety days. 5.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors have recently added to or reduced their stakes in RLAY. AQR Capital Management LLC lifted its position in shares of Relay Therapeutics by 11.9% during the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock valued at $956,000 after buying an additional 38,812 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Relay Therapeutics by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after acquiring an additional 5,238 shares during the period. Millennium Management LLC lifted its holdings in shares of Relay Therapeutics by 14.6% during the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after purchasing an additional 374,491 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Relay Therapeutics during the 1st quarter valued at approximately $53,000. Finally, Woodline Partners LP lifted its stake in Relay Therapeutics by 448.4% during the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock valued at $3,979,000 after acquiring an additional 1,241,657 shares during the period. Institutional investors own 96.98% of the company’s stock.

About Relay Therapeutics

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.