Relay Therapeutics (NASDAQ:RLAY) Sets New 12-Month High After Earnings Beat

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s stock price reached a new 52-week high on Friday following a better than expected earnings announcement. The stock traded as high as $10.99 and last traded at $11.2970, with a volume of 1751195 shares. The stock had previously closed at $9.16.

The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.06. The company had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $4.34 million.

Analyst Ratings Changes

Several research analysts recently weighed in on RLAY shares. Oppenheimer raised 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 research note on Monday, January 26th. Wells Fargo & Company lifted their price target on shares of Relay Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.40.

Insider Activity at Relay Therapeutics

In related news, insider Peter Rahmer sold 11,684 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total value of $89,032.08. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjiv Patel sold 43,168 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $7.82, for a total transaction of $337,573.76. Following the transaction, the chief executive officer directly owned 661,041 shares of the company’s stock, valued at $5,169,340.62. This trade represents a 6.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 93,302 shares of company stock worth $724,355. 4.87% of the stock is owned by insiders.

Institutional Trading of Relay Therapeutics

Institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Relay Therapeutics by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock worth $71,000 after buying an additional 1,757 shares during the last quarter. Abel Hall LLC grew its position in Relay Therapeutics by 16.2% during the fourth quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock valued at $110,000 after acquiring an additional 1,809 shares during the period. Cresset Asset Management LLC increased its stake in Relay Therapeutics by 5.0% during the third quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock worth $203,000 after acquiring an additional 1,848 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in Relay Therapeutics by 8.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 27,871 shares of the company’s stock worth $145,000 after acquiring an additional 2,079 shares during the last quarter. Finally, Prelude Capital Management LLC raised its holdings in shares of Relay Therapeutics by 18.7% in the 3rd quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock worth $103,000 after purchasing an additional 3,100 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.

Relay Therapeutics Trading Up 12.0%

The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -6.33 and a beta of 1.59. The firm has a 50 day moving average price of $8.37 and a two-hundred day moving average price of $6.74.

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.