Relay Therapeutics (NASDAQ:RLAY) Reaches New 1-Year High – Here’s Why

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) hit a new 52-week high during trading on Monday . The company traded as high as $19.10 and last traded at $18.9030, with a volume of 295059 shares traded. The stock had previously closed at $18.56.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RLAY. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Wednesday, April 8th. Guggenheim increased their price objective on Relay Therapeutics from $22.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Oppenheimer lifted their target price on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” 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. Finally, UBS Group set a $26.00 price objective on Relay Therapeutics in a research report on Tuesday, May 19th. Two research 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. Based on data from MarketBeat, Relay Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $23.30.

Relay Therapeutics Trading Up 6.1%

The stock has a market cap of $3.77 billion, a price-to-earnings ratio of -12.49 and a beta of 1.75. The company’s fifty day moving average is $14.52 and its two-hundred day moving average is $11.19.

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

Insider Activity

In other news, insider Donald A. Bergstrom sold 93,456 shares of the stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the sale, the insider owned 418,557 shares of the company’s stock, valued at approximately $7,090,355.58. This represents a 18.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Catinazzo sold 187,163 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.97, for a total transaction of $3,176,156.11. Following the completion of the transaction, the chief financial officer directly owned 177,461 shares of the company’s stock, valued at approximately $3,011,513.17. The trade was a 51.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 321,068 shares of company stock worth $5,292,189. 5.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Relay Therapeutics

A number of hedge funds have recently added to or reduced their stakes in RLAY. Seven Fleet Capital Management LP grew its stake in shares of Relay Therapeutics by 253.1% in the first quarter. Seven Fleet Capital Management LP now owns 257,738 shares of the company’s stock worth $2,564,000 after acquiring an additional 184,738 shares in the last quarter. Perceptive Advisors LLC grew its stake in Relay Therapeutics by 412.3% during the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after purchasing an additional 7,847,896 shares in the last quarter. Bank of America Corp DE grew its stake in Relay Therapeutics by 86.1% during the 1st quarter. Bank of America Corp DE now owns 1,937,695 shares of the company’s stock worth $19,280,000 after purchasing an additional 896,746 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Relay Therapeutics by 77.8% during the 1st quarter. Janus Henderson Group PLC now owns 65,573 shares of the company’s stock worth $652,000 after purchasing an additional 28,700 shares during the period. Finally, Amundi acquired a new stake in Relay Therapeutics in the 1st quarter valued at about $213,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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.