Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price18.84 USD
Fair value26.00
Ethical score70.0/100
Our investment reviews on this name
2026-09-11Read Markdown19.46-3.2% to today ✓
2026-08-11Read Markup19.77-4.7% to today
2026-07-02Read Accumulation14.81+27.2% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Relay Therapeutics, Inc. holds its Markdown at $18.84. The statistical read favours the sellers, held for 267 days.
As held on the ledger · 2026-09-18
Phase
Markdown · caution
Quantitative state
The statistical read favours the sellers, held for 267 days
Price at the screen
$18.84
Valuation
N/A trailing · -11.59 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.70
The Workings
Five Screens, Shown in Full
Does not pass. Interest-bearing securities
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
5.22%
Below 33%
Interest-bearing debt is just 5.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
75.72%
Below 33%
Interest-bearing cash and securities are 75.7% of assets, above the one-third limit.
Fail
Receivables
13.52%
Below 49%
Money owed to the company is 13.5% of assets, under the 49% limit.
Pass
Revenue purity
176.07%
Below 5%
176.1% of revenue comes from non-compliant sources, over the 5% line.
Fail
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-18 screen. The gold marker is the market price at the same screen. A 38.0% margin of safety to the base estimate.
Third-party analyst targets: 13 covering, consensus None. The average target sits +38% from the screen price.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-18 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Precision drug bets still run on hope
Relay Therapeutics tries to speed up the hunt for new cancer and genetic disease drugs by mapping protein motion rather than guessing at static shapes. The idea sounds clever on a slide deck, yet the company remains a clinical-stage outfit with no approved products and revenue that fell 61 percent last year.
We pass despite the clean ethical screen and analyst price targets that sit above the current share price. Forward earnings sit deep in negative territory, profit margins are zero, and return on equity is minus 40 percent. Unknown competitive edge plus a business that burns cash while it waits for trial results leaves too many unknowns for a position of any size.
Clinical failure rates stay punishing even when the science looks promising on paper. Currency and funding cycles can also shift quickly for small biotechs, turning a modest delay into permanent dilution. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day; as a biotechnology name, trial and regulatory outcomes can move it sharply either way; it carries a real debt load, which raises the stakes if revenue slips.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
RLAY trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-09-11Markdown · changed$19.46-1.6%Entry 5
The framework has shifted from markup to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 1.6% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 64% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 287%. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (12 analysts) rates it strong buy, with a mean price target of $24.
2026-08-11Markup · changed$19.77+33.5%Entry 4
The framework has shifted from accumulation to markup since the last review. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 33.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 64% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 287%. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (12 analysts) rates it strong buy, with a mean price target of $24.
2026-07-18Accumulation$14.81+0.0%Entry 3
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows good risk-adjusted returns. Our composite framework grades it B. Technically it is holding around 64% above its long-term trend line with momentum reading bullish. Over the past year the shares are up 287%. Our forward projection puts the odds of a 10% gain over the next month near 38%. The street (12 analysts) rates it strong buy, with a mean price target of $24.
2026-07-03Accumulation$14.81+0.0%Entry 2
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
2026-07-02Accumulation$14.81Entry 1
The framework reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows good risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
