Relay Therapeutics (NASDAQ:RLAY) Trading Up 8.4% – Here’s Why

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) traded up 8.4% during mid-day trading on Tuesday . The stock traded as high as $8.15 and last traded at $8.2280. 315,477 shares were traded during trading, a decline of 86% from the average session volume of 2,184,687 shares. The stock had previously closed at $7.59.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. Oppenheimer upgraded shares of Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 target price for the company in a report on Monday. Finally, Wells Fargo & Company raised shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $6.00 to $13.00 in a report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Relay Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.57.

Relay Therapeutics Stock Performance

The company has a market capitalization of $1.46 billion, a PE ratio of -4.81 and a beta of 1.55. The firm has a fifty day simple moving average of $7.86 and a 200-day simple moving average of $5.89.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). As a group, research analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insider Activity

In other Relay Therapeutics news, insider Peter Rahmer sold 21,394 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $7.50, for a total transaction of $160,455.00. Following the sale, the insider directly owned 337,469 shares in the company, valued at approximately $2,531,017.50. The trade was a 5.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjiv Patel sold 62,073 shares of Relay Therapeutics stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $7.00, for a total transaction of $434,511.00. Following the completion of the transaction, the chief executive officer owned 703,215 shares in the company, valued at approximately $4,922,505. This trade represents a 8.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 126,635 shares of company stock worth $932,540. 4.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. FNY Investment Advisers LLC boosted its holdings in shares of Relay Therapeutics by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $34,000 after buying an additional 5,000 shares during the period. Quinn Opportunity Partners LLC bought a new position in shares of Relay Therapeutics in the second quarter worth about $35,000. May Hill Capital LLC acquired a new position in shares of Relay Therapeutics during the 2nd quarter worth about $38,000. Focus Partners Advisor Solutions LLC acquired a new stake in Relay Therapeutics in the 2nd quarter valued at approximately $39,000. Finally, Quadrant Capital Group LLC increased its position in Relay Therapeutics by 245.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 11,791 shares of the company’s stock worth $41,000 after buying an additional 8,374 shares during the period. Institutional investors and hedge funds own 96.98% of the company’s stock.

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.