Relay Therapeutics (NASDAQ:RLAY) Stock Price Down 6.1% – Time to Sell?

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares fell 6.1% during trading on Thursday . The company traded as low as $14.32 and last traded at $14.3610. 1,716,832 shares were traded during mid-day trading, a decline of 45% from the average session volume of 3,141,129 shares. The stock had previously closed at $15.30.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RLAY. Citigroup restated an “outperform” rating on shares of Relay Therapeutics in a research report on Wednesday, May 20th. Wall Street Zen cut Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Wednesday, April 8th. Citizens Jmp boosted their price target on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 20th. Finally, The Goldman Sachs Group boosted their price objective on Relay Therapeutics from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Relay Therapeutics has an average rating of “Buy” and a consensus price target of $23.30.

Relay Therapeutics Price Performance

The firm has a 50 day simple moving average of $13.42 and a 200-day simple moving average of $10.20. The company has a market cap of $2.79 billion, a price-to-earnings ratio of -9.27 and a beta of 1.75.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly 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 analyst estimates of $5.58 million. Research analysts anticipate that Relay Therapeutics, Inc. will post -1.59 EPS for the current fiscal year.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 17,717 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $12.86, for a total value of $227,840.62. Following the transaction, the chief financial officer owned 195,178 shares of the company’s stock, valued at $2,509,989.08. This represents a 8.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 40,449 shares of company stock valued at $532,889. 5.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors have recently made changes to their positions in RLAY. SG Americas Securities LLC boosted its position in shares of Relay Therapeutics by 591.7% during the 4th quarter. SG Americas Securities LLC now owns 220,949 shares of the company’s stock worth $1,869,000 after purchasing an additional 189,004 shares during the period. Tudor Investment Corp ET AL purchased a new stake in Relay Therapeutics in the third quarter valued at approximately $399,000. Commodore Capital LP lifted its stake in Relay Therapeutics by 27.3% during the third quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock worth $88,740,000 after purchasing an additional 3,650,000 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Relay Therapeutics during the fourth quarter worth $1,203,000. Finally, Mayport LLC purchased a new position in shares of Relay Therapeutics during the third quarter worth $259,000. 96.98% of the stock is currently 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.