Relay Therapeutics (NASDAQ:RLAY) Stock Price Up 7.2% – Here’s Why

Relay Therapeutics, Inc. (NASDAQ:RLAY) traded up 7.2% during mid-day trading on Monday . The stock traded as high as $8.38 and last traded at $8.2150. 1,007,188 shares changed hands during mid-day trading, a decline of 53% from the average session volume of 2,158,824 shares. The stock had previously closed at $7.66.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Oppenheimer raised Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a research note on Monday, January 26th. Wells Fargo & Company raised Relay Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $6.00 to $13.00 in a research report on Friday, December 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $16.57.

Relay Therapeutics Stock Down 2.1%

The company has a market cap of $1.47 billion, a P/E ratio of -4.85 and a beta of 1.59. The firm has a 50 day moving average of $7.99 and a 200-day moving average of $6.09.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, November 6th. The company reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). On average, research analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In other news, insider Donald A. Bergstrom sold 18,895 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total transaction of $143,979.90. Following the transaction, the insider directly owned 422,733 shares in the company, valued at approximately $3,221,225.46. This trade represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Rahmer sold 11,684 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total transaction of $89,032.08. Following the transaction, the insider directly owned 277,964 shares in the company, valued at approximately $2,118,085.68. The trade was a 4.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 93,302 shares of company stock valued at $724,355 in the last 90 days. Insiders own 4.87% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RLAY. Torren Management LLC bought a new stake in Relay Therapeutics during the fourth quarter valued at about $30,000. FNY Investment Advisers LLC lifted its position in shares of Relay Therapeutics by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $34,000 after buying an additional 5,000 shares during the last quarter. Quinn Opportunity Partners LLC bought a new stake in shares of Relay Therapeutics in the 2nd quarter valued at about $35,000. May Hill Capital LLC purchased a new position in shares of Relay Therapeutics in the 2nd quarter worth approximately $38,000. Finally, Focus Partners Advisor Solutions LLC purchased a new position in shares of Relay Therapeutics in the 2nd quarter worth approximately $39,000. 96.98% of the stock is owned by 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.