Relay Therapeutics (NASDAQ:RLAY) Hits New 12-Month High – Here’s Why

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares hit a new 52-week high on Tuesday . The stock traded as high as $19.99 and last traded at $20.0110, with a volume of 1295446 shares trading hands. The stock had previously closed at $18.90.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Barclays lifted their price objective on Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Wells Fargo & Company increased their target price on Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. JonesTrading raised Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Citigroup restated an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday, May 20th. Finally, UBS Group set a $26.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Relay Therapeutics presently has an average rating of “Buy” and an average price target of $23.30.

Relay Therapeutics Stock Performance

The stock’s fifty day simple moving average is $14.82 and its two-hundred day simple moving average is $11.64. The company has a market cap of $3.77 billion, a price-to-earnings ratio of -12.54 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The firm had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.58 million. Analysts predict that Relay Therapeutics, Inc. will post -1.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Thomas Catinazzo sold 187,163 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $16.97, for a total transaction of $3,176,156.11. Following the completion of the sale, the chief financial officer owned 177,461 shares in the company, valued at approximately $3,011,513.17. The trade was a 51.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald A. Bergstrom sold 93,456 shares of the stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the sale, the insider directly owned 418,557 shares of the company’s stock, valued at approximately $7,090,355.58. This trade represents a 18.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 353,351 shares of company stock worth $6,016,191 over the last three months. 5.04% of the stock is owned by insiders.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors have recently bought and sold shares of RLAY. Sanctuary Advisors LLC increased its position in shares of Relay Therapeutics by 1.1% in the first quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock worth $1,431,000 after acquiring an additional 1,588 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted 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 valued at $71,000 after acquiring an additional 1,757 shares in the last quarter. Abel Hall LLC boosted its position in Relay Therapeutics by 16.2% during the 4th quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock worth $110,000 after purchasing an additional 1,809 shares during the period. Cresset Asset Management LLC boosted its position in Relay Therapeutics by 5.0% during the 3rd quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock worth $203,000 after purchasing an additional 1,848 shares during the period. Finally, Prelude Capital Management LLC increased its holdings in Relay Therapeutics by 18.7% in the 3rd quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock valued at $103,000 after purchasing an additional 3,100 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other 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.