Relay Therapeutics, Inc. (NASDAQ:RLAY) Sees Significant Growth in Short Interest

Relay Therapeutics, Inc. (NASDAQ:RLAY) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totaling 26,998,295 shares, a growth of 23.1% from the March 31st total of 21,938,652 shares. Approximately 15.9% of the company’s shares are sold short. Based on an average trading volume of 4,387,680 shares, the short-interest ratio is currently 6.2 days.

Insider Activity

In other news, CFO Thomas Catinazzo sold 17,717 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $13.01, for a total transaction of $230,498.17. Following the completion of the transaction, the chief financial officer owned 213,867 shares of the company’s stock, valued at approximately $2,782,409.67. This trade represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 22,732 shares of company stock worth $305,048 over the last ninety days. 4.87% of the stock is currently owned by company insiders.

Institutional Trading of Relay Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Torren Management LLC bought a new stake in shares of Relay Therapeutics in the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC raised its position in shares of Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after buying an additional 3,287 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Relay Therapeutics during the 4th quarter valued at $46,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Relay Therapeutics by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock valued at $71,000 after purchasing an additional 1,757 shares during the last quarter. Finally, Abel Hall LLC bought a new position in shares of Relay Therapeutics during the 3rd quarter valued at $58,000. Institutional investors own 96.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday. HC Wainwright lifted their price target on shares of Relay Therapeutics from $19.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup reiterated an “outperform” rating on shares of Relay Therapeutics in a report on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Barclays boosted their price target on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Relay Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $20.56.

Relay Therapeutics Stock Performance

RLAY traded down $0.24 during midday trading on Friday, reaching $12.72. The company had a trading volume of 2,912,171 shares, compared to its average volume of 2,774,987. The business has a 50-day moving average price of $11.87 and a two-hundred day moving average price of $9.13. Relay Therapeutics has a 12-month low of $2.67 and a 12-month high of $17.32. The stock has a market cap of $2.43 billion, a PE ratio of -7.85 and a beta of 1.57.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.06. The business had revenue of $7.00 million during the quarter, compared to the consensus estimate of $4.34 million. On average, research analysts anticipate that Relay Therapeutics will post -1.51 earnings per share for the current year.

Relay Therapeutics Company Profile

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.