Stocks · Healthcare · Biotechnology
Relay Therapeutics, Inc. RLAY
$18.96 +2.54% Close, Oct 2, 2026 · NASDAQ · Market cap $4.15B
Strong trend
Next earnings report: Nov 5, 2026
Scroll or pinch to zoom, drag to move. Daily prices adjusted for splits. Markers: E = earnings (green beat, red miss), S = split, D = dividend.
Three things to know
- Operating margin widened to -2999.4% from -4105.6% a year earlier.
- The diluted share count rose 18.4% in a year.
- Over the past year the stock returned +256.4%, ahead of the S&P 500 by 241.3 percentage points.
PromtFinance scores
Each score is a percentile within the Healthcare sector (0–100). Under each score: how the stock ranks in its sector on every component. As of Oct 5, 2026.
How fast revenue, earnings and cash flow are growing.
- Revenue growth (TTM, YoY)Top 30%
- Revenue growth, 3-year CAGRTop 6%
- Revenue growth accelerationBottom 14%
Returns on capital, margins, earnings quality and balance-sheet strength.
- Return on invested capitalBottom 39%
- Gross marginBottom 3%
- Operating marginBottom 9%
- Accruals (lower is better)Top 44%
How cheap the shares are relative to earnings, cash flow and their own history.
- Earnings yieldBottom 49%
- Free-cash-flow yieldBottom 49%
- EBITDA / enterprise valueBottom 45%
- Sales / enterprise valueBottom 5%
Strength and persistence of the price trend, including versus the S&P 500.
- 12-month return excluding last monthTop 5%
- 6-month returnTop 19%
- 1-year return vs S&P 500Top 4%
- Distance from 52-week highTop 17%
- Trend checklist (0–4)Top 20%
Earnings surprises and analyst sentiment (estimate-revision history is being collected).
- Average EPS surprise, last 4 quartersBottom 35%
- Consecutive EPS beatsBottom 20%
- Share of analysts rating BuyTop 10%
- Upside to consensus price targetBottom 39%
Low volatility, shallow drawdowns, low market sensitivity and modest leverage.
- Volatility, 60 days (lower is better)Top 27%
- Maximum drawdown, 3 yearsBottom 26%
- Beta vs S&P 500 (lower is better)Bottom 14%
What changed
Latest four quarters versus the same period a year earlier (growth: versus one quarter earlier).
| Measure | Before | Now | |
|---|---|---|---|
| Revenue growth (YoY) | 39.0% | 23.9% | ↓ |
| Gross margin | -2323.6% | -566.6% | ↑ |
| Operating margin | -4105.6% | -2999.4% | ↑ |
| FCF margin | -3136.2% | -2050.3% | ↑ |
Fundamental momentum
| Measure | Now (TTM) | Year / quarter before | Sector rank | |
|---|---|---|---|---|
| Revenue growth (TTM, YoY) | 23.9% | 39.0% | ↓ | Top 30% |
| Gross margin | -566.6% | -2323.6% | ↑ | Bottom 3% |
| Operating margin | -2999.4% | -4105.6% | ↑ | Bottom 9% |
| Net margin | -2763.6% | -3728.4% | ↑ | — |
| Free-cash-flow margin | -2050.3% | -3136.2% | ↑ | — |
| Return on invested capital | -33.7% | — | Bottom 39% | |
| Revenue growth, 3-year CAGR | 123.2% | — | Top 6% |
Quality of earnings and balance sheet
- Accruals (net income − OCF) / assetsLower is better; high accruals can signal weaker earnings quality.
- -7.6%
- Stock-based compensation / revenueA cost to shareholders through dilution.
- 466.8%
- Net debt / EBITDABelow 1× is conservative; above 3× is high leverage.
- Net cash
Shareholder returns
- Dividend yield (dividends paid, TTM)
- 0.00%
- Net buyback yield (TTM)
- -11.15%
- Shareholder yield
- -11.15%
- Share count change, 1 year
- +18.4%
- Share count change, 3-year CAGR
- +18.6%
Shareholder yield = dividends + net buybacks over the last four quarters, divided by market cap.
Based on the four quarters through Jun 30, 2026 (filed Aug 6, 2026).
Earnings and expectations
Earnings momentum
- Consecutive EPS beats
- 0
- Beats in the last 8 reports
- 5 of 8
- Average EPS surprise, last 4
- -4.1%
- Average 2-day reaction, last 8
- +0.8%
- Positive 20 days after report
- 4 of 8
Analysts
- Consensus price target
- $26.25
- Target vs current price
- +38.4%
- Analysts with a rating
- 15
- Share rating Buy or Strong Buy
- 100%
- Consensus rating
- Buy
How the stock reacted to recent reports
| Report date | EPS surprise | 2 days | 5 days | 20 days | 60 days |
|---|---|---|---|---|---|
| Aug 6, 2026 | -4.8% | +0.3% | +1.9% | -6.0% | — |
| May 5, 2026 | -17.1% | -0.7% | -1.8% | +19.9% | +48.6% |
| Feb 26, 2026 | +15.8% | -0.7% | +10.1% | +4.1% | +48.2% |
| Nov 6, 2025 | -10.3% | -0.3% | -5.8% | +22.1% | +32.4% |
| Aug 7, 2025 | +16.3% | -1.1% | -3.1% | +13.3% | +107.9% |
| May 5, 2025 | +8.0% | +2.2% | -7.7% | -2.2% | +11.7% |
| Feb 26, 2025 | +21.1% | +1.9% | -13.3% | -19.6% | -22.3% |
| Nov 6, 2024 | +18.2% | +5.0% | -0.2% | -26.2% | -22.2% |
Returns from the close before each report. Past reactions do not determine future ones.
Earnings history
| Report date | EPS | Estimate | Surprise | Revenue |
|---|---|---|---|---|
| Aug 6, 2026 | -$0.41 | -$0.39 | -4.8% | $350,000 |
| May 5, 2026 | -$0.41 | -$0.35 | -17.1% | $3.0M |
| Feb 26, 2026 | -$0.32 | -$0.38 | +15.8% | $7.0M |
| Nov 6, 2025 | -$0.43 | -$0.39 | -10.3% | — |
| Aug 7, 2025 | -$0.41 | -$0.49 | +16.3% | $677,000 |
| May 5, 2025 | -$0.46 | -$0.50 | +8.0% | $7.7M |
| Feb 26, 2025 | -$0.45 | -$0.57 | +21.1% | — |
| Nov 6, 2024 | -$0.63 | -$0.77 | +18.2% | — |
Valuation in context
| Multiple | Now | 5-year median | 5-year percentile | Sector rank (cheapness) |
|---|---|---|---|---|
| EV / Sales | 392.70× | — | — | Bottom 5% |
| Free-cash-flow yield | -5.11% | — | — | Bottom 49% |
| Earnings yield | -8.28% | — | — | Bottom 49% |
Technical state
Trend checklist
- ✓ Price above 20-day average
- ✗ Price above 50-day average
- ✓ Price above 200-day average
- ✓ 50-day average above 200-day
- ✓ MACD histogram positive
Trend quality
- Days above the 50-day average
- 0
- Days above the 200-day average
- 273
- 50-day average slope (20 days)
- -1.2%
- 200-day average slope (20 days)
- +8.6%
- Distance from 50-day average
- -0.7%
- Distance from 200-day average
- +35.3%
- RSI (14)
- 52.8
- Relative volume
- 0.76×
Risk and drawdowns
- Volatility, 60 days (annualized)
- 43.1%
- Volatility vs own 5-year history
- 0th percentile · Low for this stock
- Beta vs S&P 500 (2 years, weekly)
- 1.95
- Correlation with S&P 500
- 0.44
- Current drawdown from 1-year high
- -8.6%
- Maximum drawdown, 3 years
- -83.4%
Largest declines in the past six years
| From peak | To low | Decline | Length | Recovery |
|---|---|---|---|---|
| Jan 22, 2021 | Apr 4, 2025 | -96.8% | 1055 days | Not yet recovered |
| Nov 25, 2020 | Jan 11, 2021 | -31.0% | 30 days | 6 days (Jan 20, 2021) |
| Oct 5, 2020 | Nov 3, 2020 | -21.3% | 21 days | 6 days (Nov 11, 2020) |
Declines of 10% or more from a closing high, measured on daily closes.
Financial statements
- Market cap
- $4.15B
- EPS, diluted (TTM)
- -$1.57
- Revenue (TTM)
- $10.3M
- 52-week range
- $5.17 – $21.27
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Revenue | $3.0M | $1.4M | $25.5M | $10.0M | $15.4M |
| Gross profit | -$166.4M | -$241.6M | -$300.8M | -$305.4M | $11.8M |
| Operating income | -$364.7M | -$299.3M | -$373.0M | -$372.5M | -$302.7M |
| Net income | -$363.9M | -$290.5M | -$342.0M | -$337.7M | -$276.5M |
| EPS (diluted) | -$3.82 | -$2.59 | -$2.79 | -$2.36 | -$1.61 |
| Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $7.7M | $677,000 | $0 | $7.0M | $3.0M | $350,000 |
| Net income | -$88.1M | -$76.0M | -$77.1M | -$70.4M | -$74.1M | -$54.9M | -$73.3M | -$83.7M |
| EPS (diluted) | -$0.63 | -$0.45 | -$0.46 | -$0.41 | -$0.43 | -$0.32 | -$0.41 | -$0.41 |
| FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|
| Operating cash flow | -$74.4M | -$229.5M | -$300.3M | -$249.1M | -$235.5M |
| Capital expenditure | -$3.5M | -$9.1M | -$4.1M | -$2.0M | -$410,000 |
| Free cash flow | -$77.9M | -$238.6M | -$304.4M | -$251.1M | -$235.9M |
| Dividends paid | $0 | $0 | $0 | $0 | $0 |
| Net share buybacks | $382.2M | $284.7M | $30.3M | $265.9M | $1.6M |
Cash outflows are shown as negative numbers.
- Cash and short-term investments
- $910.9M
- Total assets
- $967.5M
- Total liabilities
- $77.4M
- Total debt
- $30.7M
- Net debt
- -$90.5M
- Shareholders’ equity
- $890.0M
As of Jun 30, 2026 (filed Aug 6, 2026).
Short interest
- Shares sold short
- 44,487,428
- Days to cover
- 14.22
- Change vs previous report
- +2.1%
FINRA short interest, settlement date Sep 15, 2026.