Relay Therapeutics (NASDAQ:RLAY) Reaches New 12-Month High – Still a Buy?

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares reached a new 52-week high on Wednesday . The stock traded as high as $15.89 and last traded at $14.75, with a volume of 4093169 shares changing hands. The stock had previously closed at $15.26.

Analysts Set New Price Targets

Several research firms recently weighed in on RLAY. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Wednesday, April 8th. Citizens Jmp increased their price target on shares of Relay Therapeutics from $15.00 to $17.00 and gave the company a “market outperform” rating in a research report on Tuesday, March 17th. HC Wainwright increased their price target on shares of Relay Therapeutics from $14.00 to $19.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. Guggenheim increased their price target on shares of Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Relay Therapeutics in a report on Monday, March 16th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Relay Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $18.38.

Relay Therapeutics Price Performance

The firm has a market capitalization of $2.88 billion, a PE ratio of -9.94 and a beta of 1.57. The company’s fifty day simple moving average is $10.66 and its 200 day simple moving average is $8.49.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.06. The business had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $4.34 million. On average, analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 1,800 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $15.00, for a total transaction of $27,000.00. Following the sale, the chief financial officer directly owned 213,867 shares of the company’s stock, valued at $3,208,005. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Peter Rahmer sold 11,684 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total transaction of $89,032.08. Following the sale, the insider directly owned 277,964 shares in the company, valued at approximately $2,118,085.68. This trade represents a 4.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 69,651 shares of company stock valued at $644,279 over the last three months. 4.87% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Relay Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in shares of Relay Therapeutics by 591.7% in the fourth quarter. SG Americas Securities LLC now owns 220,949 shares of the company’s stock worth $1,869,000 after buying an additional 189,004 shares in the last quarter. Congress Asset Management Co. lifted its holdings in shares of Relay Therapeutics by 160.9% in the third quarter. Congress Asset Management Co. now owns 408,842 shares of the company’s stock worth $2,134,000 after buying an additional 252,142 shares in the last quarter. Commodore Capital LP lifted its holdings in shares of Relay Therapeutics by 27.3% in the third quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock worth $88,740,000 after buying an additional 3,650,000 shares in the last quarter. Mayport LLC purchased a new stake in shares of Relay Therapeutics in the third quarter worth about $259,000. Finally, Tudor Investment Corp ET AL purchased a new stake in shares of Relay Therapeutics in the third quarter worth about $399,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

About Relay Therapeutics

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.