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

Wall Street Zen downgraded shares of Relay Therapeutics (NASDAQ:RLAY) from a hold rating to a sell rating in a research note published on Saturday morning.

RLAY has been the topic of several other reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Monday, July 6th. HC Wainwright boosted their price target on Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Zacks Research cut Relay Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. JonesTrading upgraded Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Relay Therapeutics from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.83.

Relay Therapeutics Stock Performance

Shares of Relay Therapeutics stock opened at $20.67 on Friday. The firm’s 50-day simple moving average is $18.38 and its 200-day simple moving average is $14.05. Relay Therapeutics has a twelve month low of $3.31 and a twelve month high of $20.79. The firm has a market cap of $4.53 billion, a P/E ratio of -13.17 and a beta of 1.69.

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

Insiders Place Their Bets

In related news, insider Peter Rahmer sold 50,000 shares of the firm’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total transaction of $954,500.00. Following the completion of the sale, the insider directly owned 225,857 shares of the company’s stock, valued at $4,311,610.13. This trade represents a 18.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald A. Bergstrom sold 2,237 shares of Relay Therapeutics stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total value of $41,630.57. Following the completion of the transaction, the insider owned 407,660 shares of the company’s stock, valued at approximately $7,586,552.60. The trade was a 0.55% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 409,639 shares of company stock valued at $7,233,399 in the last 90 days. Insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Relay Therapeutics in the 2nd quarter valued at $286,042,000. Commodore Capital LP bought a new stake in shares of Relay Therapeutics during the second quarter worth $46,191,000. Perceptive Advisors LLC lifted its stake in shares of Relay Therapeutics by 412.3% during the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after acquiring an additional 7,847,896 shares during the period. Spruce Street Capital LP acquired a new position in shares of Relay Therapeutics during the fourth quarter valued at $25,246,000. Finally, Bank of America Corp DE acquired a new position in shares of Relay Therapeutics during the second quarter valued at $50,425,000. 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.