Relay Therapeutics (NASDAQ:RLAY) Shares Gap Up on Analyst Upgrade

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s stock price gapped up prior to trading on Tuesday after JonesTrading upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $12.10, but opened at $13.00. Relay Therapeutics shares last traded at $12.9860, with a volume of 5,361,414 shares trading hands.

A number of other analysts have also commented on RLAY. Citizens Jmp boosted their price target on shares of Relay Therapeutics from $19.00 to $21.00 and gave the company a “market outperform” rating in a research note on Wednesday. Wall Street Zen lowered shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. The Goldman Sachs Group boosted their price target on shares of Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Oppenheimer boosted their price target on shares of Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Relay Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $22.60.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $12.86, for a total transaction of $227,840.62. Following the transaction, the chief financial officer directly owned 195,178 shares of the company’s stock, valued at $2,509,989.08. The trade was a 8.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 40,449 shares of company stock worth $532,889. 5.04% of the stock is owned by insiders.

Key Headlines Impacting Relay Therapeutics

Here are the key news stories impacting Relay Therapeutics this week:

• Positive Sentiment: Relay reported encouraging Phase 2 ReInspire data for zovegalisib in PIK3CA-driven vascular anomalies, including a 60% volumetric response rate across doses, broad symptom improvement, and a tolerability profile that could support chronic use. GlobeNewswire release on initial clinical data
• Positive Sentiment: Reuters and other market coverage highlighted that the mid-stage results showed the experimental treatment can shrink vascular malformations and improve symptoms, reinforcing investor optimism around the drug’s commercial potential. Reuters article
• Positive Sentiment: Analysts responded favorably, with Citizens JMP raising its price target to $21 and Raymond James lifting its target to $26, while both kept bullish ratings. Analyst price target updates via Benzinga
• Neutral Sentiment: Unusually heavy options activity showed traders positioning for more volatility, with a sharp rise in put volume suggesting some caution even as the stock rallied.
• Negative Sentiment: Relay announced a proposed $175 million common stock offering, which can pressure the share price in the near term due to dilution concerns, even though it also strengthens the balance sheet. GlobeNewswire offering announcement

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds have recently bought and sold shares of RLAY. AQR Capital Management LLC boosted its holdings in Relay Therapeutics by 11.9% during the 1st quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after acquiring an additional 38,812 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Relay Therapeutics by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after acquiring an additional 5,238 shares during the last quarter. Millennium Management LLC boosted its holdings in Relay Therapeutics by 14.6% during the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after acquiring an additional 374,491 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Relay Therapeutics during the 1st quarter worth $53,000. Finally, Woodline Partners LP boosted its holdings in Relay Therapeutics by 448.4% during the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after acquiring an additional 1,241,657 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Relay Therapeutics Trading Up 7.9%

The stock has a market capitalization of $2.49 billion, a PE ratio of -8.29 and a beta of 1.74. The stock’s fifty day simple moving average is $12.62 and its 200-day simple moving average is $9.66.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The company had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.58 million. As a group, analysts anticipate that Relay Therapeutics, Inc. will post -1.6 earnings per share for the current fiscal 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.