Relay Therapeutics Inc is trading 10.5% down at $13.02 as investors dump high-growth, rate-sensitive names following a stronger-than-expected U.S. jobs report and rising Fed-hike bets.
- The move follows recent volatility in the biotech sector, with shares tracking broader risk-off pressure hitting growth and biotech stocks.
- There are no fresh, company-specific developments today; however, prior concerns over trial setbacks and cash runway continue to weigh on investor sentiment.