Down -27.93% in 4 Weeks, Here's Why Relay Therapeutics (RLAY) Looks Ripe for a Turnaround

Core Viewpoint - Relay Therapeutics, Inc. (RLAY) has experienced significant selling pressure, resulting in a 27.9% decline in stock price over the past four weeks, but analysts anticipate improved earnings reports in the near future [1] Technical Analysis - The Relative Strength Index (RSI) for RLAY is currently at 23.42, indicating that the stock may be oversold and could rebound as selling pressure exhausts [5] - The RSI is a momentum oscillator that helps identify potential price reversals, with a reading below 30 typically signaling an oversold condition [2][3] Earnings Estimates - There has been a strong consensus among sell-side analysts to raise earnings estimates for RLAY, leading to an 8.1% increase in the consensus EPS estimate over the last 30 days, which often correlates with price appreciation [5] - RLAY holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimate trends and EPS surprises, suggesting a potential turnaround [6]