Relay Therapeutics (NASDAQ:RLAY) Stock Rating Lowered by Zacks Research

Relay Therapeutics (NASDAQ:RLAY) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other research analysts also recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Monday, July 6th. Citigroup reiterated an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday, May 20th. JPMorgan Chase & Co. initiated coverage on Relay Therapeutics in a research report on Wednesday, July 8th. They set an “overweight” rating and a $28.00 price target for the company. Wall Street Zen raised Relay Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Finally, JonesTrading upgraded Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $24.92.

Relay Therapeutics Trading Down 0.9%

NASDAQ:RLAY opened at $19.09 on Wednesday. The company has a market capitalization of $3.66 billion, a P/E ratio of -12.16 and a beta of 1.67. The firm has a 50-day moving average price of $16.45 and a two-hundred day moving average price of $12.66. Relay Therapeutics has a twelve month low of $3.03 and a twelve month high of $20.79.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.58 million. On average, equities research analysts predict that Relay Therapeutics will post -1.57 earnings per share for the current year.

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 187,163 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.97, for a total value of $3,176,156.11. Following the sale, the chief financial officer directly owned 177,461 shares of the company’s stock, valued at approximately $3,011,513.17. This trade represents a 51.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald A. Bergstrom sold 93,456 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the completion of the sale, the insider owned 418,557 shares of the company’s stock, valued at approximately $7,090,355.58. The trade was a 18.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 426,127 shares of company stock valued at $7,426,087. Insiders own 5.04% of the company’s stock.

Institutional Trading of Relay Therapeutics

Several institutional investors have recently made changes to their positions in RLAY. Sanctuary Advisors LLC raised its position in Relay Therapeutics by 1.1% in the first quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock valued at $1,431,000 after purchasing an additional 1,588 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Relay Therapeutics by 26.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock worth $71,000 after buying an additional 1,757 shares during the period. Abel Hall LLC grew its stake in shares of Relay Therapeutics by 16.2% in the fourth quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock valued at $110,000 after buying an additional 1,809 shares in the last quarter. Cresset Asset Management LLC grew 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 valued at $203,000 after buying an additional 1,848 shares in the last quarter. Finally, Prelude Capital Management LLC raised its holdings in shares of Relay Therapeutics by 18.7% during the 3rd quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock valued at $103,000 after buying an additional 3,100 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.