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

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

A number of other research firms have also weighed in on RLAY. The Goldman Sachs Group upped their price objective on Relay Therapeutics from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. JonesTrading initiated coverage on Relay Therapeutics in a research note on Tuesday, April 14th. They set a “hold” rating and a $18.00 target price for the company. Oppenheimer upped their price target on Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Barclays increased their price target on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Finally, Citizens Jmp lifted their price objective on Relay Therapeutics from $17.00 to $19.00 and gave the company a “market outperform” rating in a research note on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.56.

Relay Therapeutics Stock Performance

NASDAQ RLAY opened at $12.76 on Friday. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of -8.13 and a beta of 1.74. The firm has a 50 day simple moving average of $12.10 and a 200-day simple moving average of $9.31. Relay Therapeutics has a one year low of $2.67 and a one year high of $17.32.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The company had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $5.58 million. Equities analysts predict that Relay Therapeutics will post -1.6 EPS for the current fiscal year.

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 17,717 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were 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 owned 213,867 shares in the company, valued at approximately $2,782,409.67. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,732 shares of company stock worth $305,048 in the last three months. Insiders own 4.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Torren Management LLC purchased a new position in shares of Relay Therapeutics in the 4th quarter valued at about $30,000. KBC Group NV purchased a new stake in Relay Therapeutics during the first quarter worth approximately $34,000. Smartleaf Asset Management LLC boosted its holdings in Relay Therapeutics by 288.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after purchasing an additional 3,287 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in Relay Therapeutics in the fourth quarter valued at approximately $46,000. Finally, Captrust Financial Advisors purchased a new position in Relay Therapeutics in the second quarter valued at approximately $49,000. 96.98% of the stock is owned by institutional investors and hedge funds.

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.