Relay Therapeutics (NASDAQ:RLAY) Sets New 1-Year High - Should You Buy?

Key Points

• Shares of Relay Therapeutics reached a new 52-week high, trading as high as $15.89 and last at $14.75 on heavy volume of about 4.09 million shares.
• Analysts have grown more positive—several firms raised price targets and the consensus rating is a Moderate Buy with an average target of $18.38.
• The company is still unprofitable despite beating the latest quarterly EPS and revenue estimates, insiders sold roughly 69,651 shares in the past three months, and institutional investors own about 97% of the stock.

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) reached a new 52-week high during trading on Wednesday . The company traded as high as $15.89 and last traded at $14.75, with a volume of 4093169 shares. The stock had previously closed at $15.26.

Wall Street Analysts Forecast Growth

RLAY has been the subject of a number of research analyst reports. HC Wainwright upped their price objective on Relay Therapeutics from $14.00 to $19.00 and gave the stock a "buy" rating in a report on Monday, March 23rd. Wells Fargo & Company upped their price objective on Relay Therapeutics from $15.00 to $17.00 and gave the stock an "overweight" rating in a report on Tuesday, March 17th. Weiss Ratings restated a "sell (d-)" rating on shares of Relay Therapeutics in a report on Wednesday, April 8th. Oppenheimer reiterated an "outperform" rating on shares of Relay Therapeutics in a report on Monday, March 16th. Finally, Citizens Jmp increased their price target on Relay Therapeutics from $15.00 to $17.00 and gave the company a "market outperform" rating in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $18.38.

Relay Therapeutics Stock Performance

The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -9.10 and a beta of 1.57. The firm has a fifty day moving average of $10.36 and a 200-day moving average of $8.38.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced 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 company had revenue of $7.00 million during the quarter, compared to analyst estimates of $4.34 million. On average, analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 1,800 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $15.00, for a total value of $27,000.00. Following the completion of the sale, the chief financial officer directly owned 213,867 shares in the company, valued at approximately $3,208,005. This represents a 0.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Peter Rahmer sold 11,684 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 transaction of $89,032.08. Following the completion of the transaction, the insider directly 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. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 69,651 shares of company stock worth $644,279. Corporate insiders own 4.32% of the company's stock.

Hedge Funds Weigh In On Relay Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in Relay Therapeutics in the 4th quarter valued at about $30,000. Smartleaf Asset Management LLC boosted its position 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. Caitong International Asset Management Co. Ltd purchased a new position in Relay Therapeutics in the 4th quarter valued at about $46,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Relay Therapeutics by 26.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company's stock valued at $71,000 after buying an additional 1,757 shares during the last quarter. Finally, Abel Hall LLC purchased a new position in Relay Therapeutics in the 3rd quarter valued at about $58,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

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.

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