Relay Therapeutics (NASDAQ:RLAY) Trading Up 4.9% – Here’s What Happened

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) were up 4.9% during mid-day trading on Wednesday . The company traded as high as $8.76 and last traded at $8.72. Approximately 364,290 shares changed hands during trading, a decline of 83% from the average daily volume of 2,160,867 shares. The stock had previously closed at $8.31.

Wall Street Analyst Weigh In

Several equities analysts have commented on RLAY shares. Guggenheim started coverage on Relay Therapeutics in a research report on Thursday, September 4th. They issued a “buy” rating and a $15.00 price objective on the stock. Wells Fargo & Company upgraded shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $6.00 to $13.00 in a report on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Relay Therapeutics Stock Performance

The company has a fifty day simple moving average of $7.34 and a two-hundred day simple moving average of $5.16. The firm has a market capitalization of $1.49 billion, a PE ratio of -4.93 and a beta of 1.50.

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

Insider Buying and Selling at Relay Therapeutics

In related news, CEO Sanjiv Patel sold 62,073 shares of Relay Therapeutics stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $7.00, for a total transaction of $434,511.00. Following the transaction, the chief executive officer directly owned 703,215 shares of the company’s stock, valued at $4,922,505. This trade represents a 8.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Thomas Catinazzo sold 21,664 shares of the business’s stock in a transaction that occurred on Tuesday, October 28th. The stock was sold at an average price of $7.29, for a total transaction of $157,930.56. Following the completion of the transaction, the chief financial officer directly owned 313,631 shares of the company’s stock, valued at $2,286,369.99. This trade represents a 6.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 155,163 shares of company stock worth $1,117,630. 4.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Commodore Capital LP purchased a new position in Relay Therapeutics in the second quarter worth $46,191,000. TCG Crossover Management LLC purchased a new stake in shares of Relay Therapeutics during the 3rd quarter valued at $9,450,000. Woodline Partners LP boosted its position in shares of Relay Therapeutics by 448.4% in the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after purchasing an additional 1,241,657 shares in the last quarter. Bellevue Group AG grew its stake in Relay Therapeutics by 11.6% during the 2nd quarter. Bellevue Group AG now owns 8,230,870 shares of the company’s stock worth $28,479,000 after buying an additional 853,578 shares during the last quarter. Finally, Norges Bank purchased a new position in Relay Therapeutics during the 2nd quarter worth $2,892,000. 96.98% of the stock is owned by 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.