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 report published on Saturday.

A number of other research analysts have also recently issued reports on the stock. JonesTrading upgraded shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Wells Fargo & Company lifted their price target on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. The Goldman Sachs Group boosted their price objective on Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Canaccord Genuity Group started coverage on Relay Therapeutics in a research note on Thursday, July 16th. They issued a “buy” rating and a $29.00 price objective for the company. Finally, Citizens Jmp raised their target price on Relay Therapeutics from $21.00 to $26.00 and gave the company a “market outperform” rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.83.

Relay Therapeutics Stock Down 0.4%

Shares of NASDAQ:RLAY opened at $19.86 on Friday. Relay Therapeutics has a twelve month low of $3.31 and a twelve month high of $20.79. The stock’s 50 day moving average is $18.24 and its 200-day moving average is $13.92. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of -12.65 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The company had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.96 million. Equities research analysts anticipate that Relay Therapeutics will post -1.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 stock was sold at an average price of $19.09, for a total value of $954,500.00. Following the transaction, the insider owned 225,857 shares of the company’s stock, valued at approximately $4,311,610.13. The trade was a 18.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald A. Bergstrom sold 93,456 shares of the company’s stock in a transaction 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 completion of the transaction, the insider owned 418,557 shares of the company’s stock, valued at $7,090,355.58. This trade represents a 18.25% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 409,639 shares of company stock valued at $7,233,399. Insiders own 5.04% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in Relay Therapeutics by 11.9% in the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock valued at $956,000 after acquiring an additional 38,812 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Relay Therapeutics by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after purchasing an additional 5,238 shares during the last quarter. Millennium Management LLC increased its stake in shares of Relay Therapeutics by 14.6% during the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after purchasing an additional 374,491 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Relay Therapeutics in the 1st quarter worth approximately $53,000. Finally, Woodline Partners LP raised its holdings in shares of Relay Therapeutics by 448.4% in the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after purchasing an additional 1,241,657 shares during the period. 96.98% of the stock is 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.