Relay Therapeutics (NASDAQ:RLAY) Rating Lowered to Sell at Wall Street Zen

Relay Therapeutics (NASDAQ:RLAY) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other research firms also recently issued reports on RLAY. JonesTrading assumed coverage on Relay Therapeutics in a research note on Tuesday, April 14th. They issued a “hold” rating and a $18.00 price target for the company. The Goldman Sachs Group boosted their price target on Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Barclays boosted their price target on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, April 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Wednesday, April 8th. Finally, Citizens Jmp boosted their price target 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 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.56.

Relay Therapeutics Price Performance

NASDAQ:RLAY opened at $12.76 on Friday. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of -8.13 and a beta of 1.74. Relay Therapeutics has a twelve month low of $2.67 and a twelve month high of $17.32. The stock’s 50 day moving average price is $12.10 and its two-hundred day moving average price is $9.31.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The firm had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.58 million. As a group, analysts anticipate that Relay Therapeutics will post -1.6 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 17,717 shares of the business’s 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 owned 213,867 shares of the company’s stock, valued at approximately $2,782,409.67. The trade was a 7.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 22,732 shares of company stock worth $305,048. 5.04% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Relay Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. Torren Management LLC acquired a new position in Relay Therapeutics in the 4th quarter worth about $30,000. KBC Group NV acquired a new position in Relay Therapeutics in the 1st quarter worth about $34,000. Smartleaf Asset Management LLC increased its holdings in Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $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 4th quarter worth about $46,000. Finally, Captrust Financial Advisors acquired a new position in Relay Therapeutics in the 2nd quarter worth about $49,000. 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.