Relay Therapeutics (NASDAQ:RLAY) Shares Up 7.2% – Here’s Why

Relay Therapeutics, Inc. (NASDAQ:RLAY) rose 7.2% during mid-day trading on Monday . The stock traded as high as $8.38 and last traded at $8.2150. Approximately 1,007,188 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 2,158,824 shares. The stock had previously closed at $7.66.

Wall Street Analyst Weigh In

RLAY has been the subject of several research analyst reports. Wells Fargo & Company upgraded Relay Therapeutics from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $6.00 to $13.00 in a research report on Friday, December 12th. Oppenheimer upgraded Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a report on Monday, January 26th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.57.

Relay Therapeutics Stock Performance

The stock has a market capitalization of $1.41 billion, a price-to-earnings ratio of -4.66 and a beta of 1.59. The stock has a fifty day simple moving average of $7.97 and a two-hundred day simple moving average of $6.01.

Relay Therapeutics (NASDAQ:RLAY) last issued its 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). Research analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Activity

In related news, CEO Sanjiv Patel sold 43,168 shares of the firm’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 in the company, valued at $5,169,340.62. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas Catinazzo sold 13,820 shares of the business’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 $105,308.40. Following the completion of the transaction, the chief financial officer owned 250,996 shares in the company, valued at $1,912,589.52. The trade was a 5.22% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 93,302 shares of company stock valued at $724,355. Corporate insiders own 4.32% of the company’s stock.

Institutional Trading of Relay Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RLAY. Torren Management LLC purchased a new position in Relay Therapeutics in the 4th quarter worth approximately $30,000. FNY Investment Advisers LLC lifted its holdings in Relay Therapeutics by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $34,000 after purchasing an additional 5,000 shares in the last quarter. Quinn Opportunity Partners LLC bought a new position in shares of Relay Therapeutics during the 2nd quarter valued at about $35,000. May Hill Capital LLC purchased a new position in shares of Relay Therapeutics in the second quarter valued at $38,000. Finally, Focus Partners Advisor Solutions LLC purchased a new position in Relay Therapeutics in the second quarter worth about $39,000. 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.