Relay Therapeutics (NASDAQ:RLAY) Rating Lowered to “Sell” at Wall Street Zen

Relay Therapeutics (NASDAQ:RLAY) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

A number of other research firms have also recently weighed in on RLAY. Citizens Jmp upped their target price on shares of Relay Therapeutics from $21.00 to $26.00 and gave the company a “market outperform” rating in a research note on Monday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Monday, July 6th. Zacks Research lowered shares of Relay Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. JonesTrading raised Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group increased their price target on Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Relay Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $25.83.

Relay Therapeutics Stock Performance

RLAY stock opened at $19.86 on Friday. The firm has a market cap of $4.35 billion, a PE ratio of -12.65 and a beta of 1.69. Relay Therapeutics has a 1 year low of $3.31 and a 1 year high of $20.79. The company has a fifty day simple moving average of $18.24 and a 200 day simple moving average of $13.96.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The business had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $0.96 million. As a group, analysts forecast that Relay Therapeutics will post -1.58 EPS for the current fiscal year.

Insider Activity at Relay Therapeutics

In other news, CEO Sanjiv Patel sold 48,199 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total value of $943,736.42. Following the transaction, the chief executive officer owned 615,898 shares of the company’s stock, valued at approximately $12,059,282.84. This represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas Catinazzo sold 1,459 shares of the company’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total transaction of $27,151.99. Following the completion of the transaction, the chief financial officer owned 158,285 shares in the company, valued at $2,945,683.85. This trade represents a 0.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 409,639 shares of company stock valued at $7,233,399. 5.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds have recently modified their holdings of the company. Torren Management LLC acquired a new position in Relay Therapeutics in the 4th quarter valued at approximately $30,000. KBC Group NV bought a new position in shares of Relay Therapeutics during the first quarter valued at $34,000. Allworth Financial LP acquired a new position in shares of Relay Therapeutics during the second quarter worth $34,000. Smartleaf Asset Management LLC lifted its holdings in shares of Relay Therapeutics by 288.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after purchasing an additional 3,287 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of Relay Therapeutics in the fourth quarter worth $46,000. Institutional investors and hedge funds 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.