Relay Therapeutics (NASDAQ:RLAY) Trading Down 6.7% – Here’s What Happened

Relay Therapeutics, Inc. (NASDAQ:RLAY) fell 6.7% during mid-day trading on Wednesday . The company traded as low as $7.94 and last traded at $7.93. 348,337 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 2,208,316 shares. The stock had previously closed at $8.50.

Wall Street Analyst Weigh In

RLAY has been the topic of several research reports. Oppenheimer upgraded shares of Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price objective on the stock in a research note on Monday. Wells Fargo & Company raised shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $6.00 to $13.00 in a research note on Friday, December 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $16.57.

Relay Therapeutics Stock Down 8.4%

The company has a market cap of $1.35 billion, a price-to-earnings ratio of -4.45 and a beta of 1.55. The business has a 50-day simple moving average of $7.90 and a two-hundred day simple moving average of $5.92.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, November 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). As a group, equities analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Transactions at Relay Therapeutics

In related news, CEO Sanjiv Patel sold 62,073 shares of Relay Therapeutics stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $7.00, for a total value of $434,511.00. Following the transaction, the chief executive officer owned 703,215 shares in the company, valued at $4,922,505. This trade represents a 8.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

Large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in Relay Therapeutics by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock worth $71,000 after acquiring an additional 1,757 shares during the last quarter. Cresset Asset Management LLC raised its stake in shares of Relay Therapeutics by 5.0% in the third quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock worth $203,000 after acquiring an additional 1,848 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Relay Therapeutics by 8.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 27,871 shares of the company’s stock worth $145,000 after purchasing an additional 2,079 shares in the last quarter. Prelude Capital Management LLC grew its stake in shares of Relay Therapeutics by 18.7% during the third quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock valued at $103,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Relay Therapeutics by 5.0% in the second quarter. Los Angeles Capital Management LLC now owns 68,615 shares of the company’s stock valued at $237,000 after purchasing an additional 3,275 shares in the last quarter. 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.