Is RLAY or SCLX more undervalued in 2026?

CirclFi compares Relay Therapeutics, Inc. (RLAY) and Scilex Holding Company (SCLX) using 13 institutional-grade valuation models. RLAY has a Quality of Company score of 6.0/10 while SCLX scores 4.7/10.

Which is a better buy — RLAY or SCLX?

Compare intrinsic values from 13 independent models against current market prices. CirclFi also calculates Value Trap scores. This is not financial advice — conduct your own analysis.

How do RLAY and SCLX valuations compare?

RLAY at $14.05 and SCLX at $8.90 are compared across Bayesian DCF, EPV, EROIC Spread, First Chicago, Markov DDM, and 8 additional models.

RLAY vs SCLX Valuation Comparison 2026 — Intrinsic Value Analysis

RLAY

Biological Products, (No Diagnostic Substances)

Relay Therapeutics, Inc.

Quality

6.0

out of 10

Value Trap

SAFE

Price

$14.05

Last close

Models

12/13

Active

SCLX

Biological Products, (No Diagnostic Substances)

Scilex Holding Company

Quality

4.7

out of 10

Value Trap

WARN

Price

$8.90

Last close

Models

5/13

Active

Model-by-Model Comparison

Model	Type	RLAY Fair Value	RLAY Upside	SCLX Fair Value	SCLX Upside
Bayesian DCF	Intrinsic	$5.06	-64.0%	$33.36	+463.5%
Earnings Power Value	Intrinsic	$7.19	-52.5%	—	—
EROIC Spread	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
First Chicago	Scenario	$•••.••	••.•%	$•••.••	••.•%
Markov DDM	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
ML-RIV	Intrinsic	$•••.••	••.•%	$•••.••	••.•%
Dynamic NAV	Asset-Based	$•••.••	••.•%	$•••.••	••.•%
PWERM	Option-Based	$•••.••	••.•%	$•••.••	••.•%
Regime Cross-Sectional	Relative	$•••.••	••.•%	$•••.••	••.•%
Sentiment SOTP	Hybrid	$•••.••	••.•%	$•••.••	••.•%
CUCE Ensemble	Ensemble	$•••.••	••.•%	$•••.••	••.•%
FTNN Topology	Relative	$•••.••	••.•%	$•••.••	••.•%
RCMH-DCF	Intrinsic	—	—	$13.55	+52.2%

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RLAY vs SCLX — Which Stock Is More Undervalued?

RLAY scores higher with a 6.0/10 quality rating vs SCLX's 4.7/10. Both stocks are analyzed daily using SEC EDGAR filings across 13 independent models.

Comparing Relay Therapeutics, Inc. (RLAY) and Scilex Holding Company (SCLX) across 13 institutional-grade valuation models reveals how each company's intrinsic value stacks up against its market price. CirclFi's engine processes SEC EDGAR 10-K and 10-Q filings, FRED macroeconomic data, and GDELT news sentiment to generate independent fair value estimates daily.

RLAY currently trades at $14.05 with a QOC of 6.0/10, while SCLX trades at $8.90 with a QOC of 4.7/10.

Both companies are analyzed with models spanning intrinsic (Bayesian DCF, EPV), scenario-based (First Chicago), regime-switching (Markov DDM, RCMH-DCF), machine learning (ML-RIV, FTNN Topology), and ensemble methods (CUCE).