Relay Therapeutics (NASDAQ:RLAY) Reaches New 1-Year High – Here’s Why

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) reached a new 52-week high during trading on Monday . The stock traded as high as $19.10 and last traded at $18.9030, with a volume of 295059 shares changing hands. The stock had previously closed at $18.56.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RLAY shares. Citizens Jmp upped their price objective on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 20th. The Goldman Sachs Group increased their price target on Relay Therapeutics from $13.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Oppenheimer raised their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Citigroup restated an “outperform” rating on shares of Relay Therapeutics in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company upped their target price on Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Relay Therapeutics presently has an average rating of “Buy” and a consensus target price of $23.30.

Relay Therapeutics Stock Performance

The stock has a market capitalization of $3.77 billion, a PE ratio of -12.49 and a beta of 1.75. The stock’s 50 day moving average is $14.52 and its two-hundred day moving average is $11.19.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.58 million. Equities research analysts expect that Relay Therapeutics, Inc. will post -1.55 EPS for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 187,163 shares of the firm’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.97, for a total value of $3,176,156.11. Following the transaction, the chief financial officer directly owned 177,461 shares of the company’s stock, valued at approximately $3,011,513.17. This trade represents a 51.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Donald A. Bergstrom sold 93,456 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the sale, the insider directly owned 418,557 shares of the company’s stock, valued at approximately $7,090,355.58. This represents a 18.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 321,068 shares of company stock worth $5,292,189. 5.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Relay Therapeutics

A number of large investors have recently made changes to their positions in RLAY. Sanctuary Advisors LLC lifted its position in Relay Therapeutics by 1.1% during the first quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock worth $1,431,000 after buying an additional 1,588 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Relay Therapeutics by 26.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock worth $71,000 after acquiring an additional 1,757 shares during the last quarter. Abel Hall LLC raised its holdings in shares of Relay Therapeutics by 16.2% during the 4th quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock worth $110,000 after acquiring an additional 1,809 shares during the period. Cresset Asset Management LLC boosted its position in shares of Relay Therapeutics by 5.0% during the 3rd quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock valued at $203,000 after acquiring an additional 1,848 shares during the last quarter. Finally, Prelude Capital Management LLC boosted its position in shares of Relay Therapeutics by 18.7% during the 3rd quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock valued at $103,000 after acquiring an additional 3,100 shares during the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

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.