Relay Therapeutics (NASDAQ:RLAY) Reaches New 1-Year High After Analyst Upgrade

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares hit a new 52-week high on Friday after Guggenheim raised their price target on the stock from $15.00 to $22.00. Guggenheim currently has a buy rating on the stock. Relay Therapeutics traded as high as $11.49 and last traded at $10.8950, with a volume of 442372 shares changing hands. The stock had previously closed at $10.55.

Other analysts have also issued research reports about the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, January 9th. Wells Fargo & Company upped their price target on shares of Relay Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, February 27th. Finally, Oppenheimer raised shares of Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price target on the stock in a research note on Monday, January 26th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.80.

Insider Buying and Selling

In related news, CFO Thomas Catinazzo sold 13,820 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total value of $105,308.40. Following the completion of the sale, the chief financial officer owned 250,996 shares of the company’s stock, valued at approximately $1,912,589.52. This represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Peter Rahmer sold 11,684 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total transaction of $89,032.08. Following the sale, the insider owned 277,964 shares of the company’s stock, valued at approximately $2,118,085.68. The trade was a 4.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 93,302 shares of company stock worth $724,355. 4.87% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new position in Relay Therapeutics in the fourth quarter valued at about $115,000. Seven Fleet Capital Management LP acquired a new stake in shares of Relay Therapeutics during the fourth quarter valued at about $618,000. Invesco Ltd. raised its stake in shares of Relay Therapeutics by 139.6% in the 4th quarter. Invesco Ltd. now owns 865,481 shares of the company’s stock valued at $7,322,000 after acquiring an additional 504,291 shares during the period. EP Wealth Advisors LLC purchased a new stake in shares of Relay Therapeutics in the 4th quarter valued at approximately $106,000. Finally, XTX Topco Ltd acquired a new position in shares of Relay Therapeutics in the 4th quarter worth approximately $1,332,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Relay Therapeutics Stock Performance

The stock has a market cap of $1.91 billion, a PE ratio of -6.64 and a beta of 1.55. The stock’s 50-day moving average is $8.67 and its two-hundred day moving average is $7.14.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.06. The firm had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $4.34 million. Analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS 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.