Relay Therapeutics (NASDAQ:RLAY) Reaches New 12-Month High – Still a Buy?

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares reached a new 52-week high on Monday . The stock traded as high as $17.50 and last traded at $17.18, with a volume of 2337825 shares. The stock had previously closed at $15.88.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on RLAY. The Goldman Sachs Group lifted their price objective on shares of Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. HC Wainwright raised their target price on Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. UBS Group set a $26.00 price target on Relay Therapeutics in a report on Tuesday, May 19th. JonesTrading raised Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Finally, Citizens Jmp boosted their price target on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Relay Therapeutics currently has an average rating of “Buy” and an average target price of $23.30.

Relay Therapeutics Price Performance

The firm has a market cap of $3.31 billion, a PE ratio of -10.96 and a beta of 1.75. The business’s fifty day moving average is $14.25 and its 200-day moving average is $10.83.

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

Insider Activity at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 17,717 shares of the company’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $12.86, for a total transaction of $227,840.62. Following the transaction, the chief financial officer owned 195,178 shares of the company’s stock, valued at $2,509,989.08. This represents a 8.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 40,449 shares of company stock worth $532,889. 5.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLAY. SG Americas Securities LLC lifted its stake in Relay Therapeutics by 591.7% in the 4th quarter. SG Americas Securities LLC now owns 220,949 shares of the company’s stock worth $1,869,000 after purchasing an additional 189,004 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in shares of Relay Therapeutics in the 3rd quarter valued at about $399,000. Commodore Capital LP boosted its position in shares of Relay Therapeutics by 27.3% during the 3rd quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock valued at $88,740,000 after acquiring an additional 3,650,000 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Relay Therapeutics during the fourth quarter worth about $1,203,000. Finally, Mayport LLC bought a new position in shares of Relay Therapeutics in the third quarter worth approximately $259,000. 96.98% of the stock is currently owned by 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.