Relay Therapeutics (NASDAQ:RLAY) Sets New 12-Month High Following Analyst Upgrade

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s stock price reached 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 equities analysts also recently issued research reports about the company. Oppenheimer upgraded Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price objective on the stock in a report on Monday, January 26th. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, January 9th. Finally, Wells Fargo & Company increased their price target on shares of Relay Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. One investment 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.80.

Insider Buying and Selling

In related news, insider Donald A. Bergstrom sold 18,895 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $143,979.90. Following the transaction, the insider directly owned 422,733 shares of the company’s stock, valued at approximately $3,221,225.46. This trade represents a 4.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjiv Patel sold 43,168 shares of the business’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 value of $337,573.76. Following the completion of the sale, the chief executive officer owned 661,041 shares of the company’s stock, valued at approximately $5,169,340.62. This trade represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 93,302 shares of company stock worth $724,355. Insiders own 4.87% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

A number of institutional investors have recently modified their holdings of the company. Torren Management LLC bought a new stake in shares of Relay Therapeutics during the 4th quarter worth $30,000. Smartleaf Asset Management LLC grew its stake in Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after buying an additional 3,287 shares during the last quarter. Quadrant Capital Group LLC raised its holdings 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 acquiring an additional 8,374 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in Relay Therapeutics in the 4th quarter worth $46,000. Finally, Quadrature Capital Ltd acquired a new position in Relay Therapeutics during the 2nd quarter worth $47,000. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Performance

The stock’s 50-day simple moving average is $8.71 and its two-hundred day simple moving average is $7.21. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -6.40 and a beta of 1.55.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.38) by $0.06. The business had revenue of $7.00 million during the quarter, compared to analyst estimates of $4.34 million. As a group, research analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share 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.