Relay Therapeutics (NASDAQ:RLAY) Shares Down 7.9% – Should You Sell?

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s stock price was down 7.9% during mid-day trading on Tuesday . The stock traded as low as $14.50 and last traded at $13.7670. Approximately 337,022 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 2,683,533 shares. The stock had previously closed at $14.95.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RLAY shares. Oppenheimer upped their target price on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday. Guggenheim upped their target price on Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a report on Friday, March 13th. Barclays upped their target price on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Wednesday, April 8th. Wells Fargo & Company upped their target price on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, The Goldman Sachs Group upped their target price on Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.56.

Relay Therapeutics Trading Up 3.1%

The firm has a market capitalization of $2.48 billion, a PE ratio of -8.00 and a beta of 1.57. The business has a fifty day moving average price of $11.87 and a two-hundred day moving average price of $9.13.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.06. The business had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $4.34 million. On average, equities analysts forecast that Relay Therapeutics, Inc. will post -1.51 earnings per share for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 17,717 shares of the stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $13.01, for a total transaction of $230,498.17. Following the completion of the transaction, the chief financial officer directly owned 213,867 shares in the company, valued at approximately $2,782,409.67. This represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 22,732 shares of company stock worth $305,048. Corporate insiders own 4.87% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC grew its holdings in shares of Relay Therapeutics by 591.7% during the 4th quarter. SG Americas Securities LLC now owns 220,949 shares of the company’s stock worth $1,869,000 after purchasing an additional 189,004 shares during the period. Tudor Investment Corp ET AL acquired a new position in Relay Therapeutics during the 3rd quarter worth about $399,000. Commodore Capital LP lifted its stake in Relay Therapeutics by 27.3% during the 3rd quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock worth $88,740,000 after acquiring an additional 3,650,000 shares in the last quarter. Mayport LLC acquired a new position in Relay Therapeutics during the 3rd quarter worth about $259,000. Finally, HighVista Strategies LLC lifted its stake in Relay Therapeutics by 60.6% during the 3rd quarter. HighVista Strategies LLC now owns 240,459 shares of the company’s stock worth $1,255,000 after acquiring an additional 90,758 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

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.