Relay Therapeutics (NASDAQ:RLAY) Stock Price Down 4.8% – Time to Sell?

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s stock price fell 4.8% during mid-day trading on Wednesday . The company traded as low as $19.45 and last traded at $19.5830. 266,028 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 3,158,819 shares. The stock had previously closed at $20.57.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen cut Relay Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Canaccord Genuity Group initiated coverage on Relay Therapeutics in a report on Thursday, July 16th. They set a “buy” rating and a $29.00 price target on the stock. The Goldman Sachs Group raised their price objective on shares of Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Guggenheim reiterated a “buy” rating on shares of Relay Therapeutics in a research note on Friday, August 7th. Finally, HC Wainwright boosted their target price on shares of Relay Therapeutics from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.92.

Relay Therapeutics Trading Down 0.2%

The business has a 50-day moving average of $19.21 and a 200 day moving average of $14.71. The firm has a market capitalization of $4.26 billion, a P/E ratio of -12.37 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last announced 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 business had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. As a group, research analysts forecast that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 50,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total transaction of $954,500.00. Following the completion of the sale, the insider owned 225,857 shares in the company, valued at approximately $4,311,610.13. The trade was a 18.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas Catinazzo sold 187,163 shares of the company’s stock in a transaction 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 transaction, the chief financial officer owned 177,461 shares in the company, valued at approximately $3,011,513.17. The trade was a 51.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 409,639 shares of company stock valued at $7,233,399 in the last 90 days. 5.04% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Relay Therapeutics in the 2nd quarter worth about $286,042,000. Commodore Capital LP acquired a new position in Relay Therapeutics during the 2nd quarter valued at about $46,191,000. Casdin Capital LLC boosted its stake in Relay Therapeutics by 14.7% during the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock valued at $110,010,000 after purchasing an additional 1,662,193 shares during the last quarter. Perceptive Advisors LLC increased its holdings in Relay Therapeutics by 412.3% during the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after purchasing an additional 7,847,896 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Relay Therapeutics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock worth $81,990,000 after purchasing an additional 295,701 shares in the last quarter. 96.98% of the stock is owned by 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.