Relay Therapeutics (NASDAQ:RLAY) Lowered to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Relay Therapeutics (NASDAQ:RLAY) from a hold rating to a strong sell rating in a report published on Wednesday,Zacks.com reports.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group assumed coverage on shares of Relay Therapeutics in a report on Thursday, July 16th. They set a “buy” rating and a $29.00 price objective on the stock. UBS Group set a $26.00 price objective on shares of Relay Therapeutics in a report on Tuesday, May 19th. Citigroup reissued an “outperform” rating on shares of Relay Therapeutics in a research report on Wednesday, May 20th. Citizens Jmp upped their target price on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 20th. Finally, HC Wainwright raised their price target on shares of Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Two research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.92.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY opened at $19.09 on Wednesday. Relay Therapeutics has a 52-week low of $3.03 and a 52-week high of $20.79. The business’s 50 day simple moving average is $16.45 and its two-hundred day simple moving average is $12.66. The firm has a market cap of $3.66 billion, a P/E ratio of -12.16 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The firm had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.58 million. On average, equities analysts forecast that Relay Therapeutics will post -1.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Relay Therapeutics news, CEO Sanjiv Patel sold 48,199 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total transaction of $943,736.42. Following the transaction, the chief executive officer directly owned 615,898 shares in the company, valued at approximately $12,059,282.84. This trade represents a 7.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald A. Bergstrom sold 8,660 shares of Relay Therapeutics stock in a transaction on Monday, July 6th. The stock was sold at an average price of $18.71, for a total transaction of $162,028.60. Following the transaction, the insider directly owned 409,897 shares in the company, valued at $7,669,172.87. This represents a 2.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 426,127 shares of company stock worth $7,426,087. 5.04% of the stock is owned by corporate insiders.

Institutional Trading of Relay Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in RLAY. Torren Management LLC purchased a new position in Relay Therapeutics during the fourth quarter worth about $30,000. KBC Group NV purchased a new stake in Relay Therapeutics in the 1st quarter valued at about $34,000. Smartleaf Asset Management LLC increased its stake in Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after buying an additional 3,287 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Relay Therapeutics during the 4th quarter worth approximately $46,000. Finally, Captrust Financial Advisors bought a new position in shares of Relay Therapeutics during the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors 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.