Relay Therapeutics (NASDAQ:RLAY) Stock Price Down 7.4% – What’s Next?

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s share price fell 7.4% during mid-day trading on Monday . The stock traded as low as $18.44 and last traded at $18.5160. 236,673 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 3,392,015 shares. The stock had previously closed at $20.00.

Analyst Upgrades and Downgrades

Several research firms recently commented on RLAY. Wells Fargo & Company lifted their target price on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. HC Wainwright upped 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. Citigroup restated an “outperform” rating on shares of Relay Therapeutics in a research report on Wednesday, May 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Monday, July 6th. Finally, JonesTrading upgraded shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Relay Therapeutics has an average rating of “Buy” and a consensus price target of $23.73.

Relay Therapeutics Stock Down 6.7%

The company has a market cap of $3.58 billion, a price-to-earnings ratio of -11.88 and a beta of 1.67. The firm has a 50 day moving average price of $15.30 and a two-hundred day moving average price of $11.97.

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

Insider Activity

In other news, insider Donald A. Bergstrom sold 93,456 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.94, for a total value of $1,583,144.64. Following the transaction, the insider owned 418,557 shares in the company, valued at approximately $7,090,355.58. The trade was a 18.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Catinazzo sold 187,163 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $16.97, for a total transaction of $3,176,156.11. Following the completion of the transaction, the chief financial officer owned 177,461 shares in the company, valued at $3,011,513.17. This trade represents a 51.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 426,127 shares of company stock worth $7,426,087 in the last 90 days. 5.04% of the stock is owned by company insiders.

Institutional Trading of Relay Therapeutics

Institutional investors have recently bought and sold shares of the company. KBC Group NV bought a new position in shares of Relay Therapeutics in the 1st quarter worth about $34,000. Torren Management LLC acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at about $30,000. Smartleaf Asset Management LLC boosted its position in shares of Relay Therapeutics by 288.6% during the 4th 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 bought a new stake in shares of Relay Therapeutics during the 4th quarter valued at about $46,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Relay Therapeutics by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock worth $71,000 after purchasing an additional 1,757 shares during the period. Institutional investors 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.