Relay Therapeutics (NASDAQ:RLAY) Sets New 52-Week High on Strong Earnings

Relay Therapeutics, Inc. (NASDAQ:RLAY) hit a new 52-week high during trading on Friday following a better than expected earnings announcement. The company traded as high as $10.99 and last traded at $11.2970, with a volume of 1751195 shares. The stock had previously closed at $9.16.

The company reported ($0.32) 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.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $6.00 to $13.00 in a research note on Friday, December 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $15.00.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 43,168 shares of Relay Therapeutics stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $7.82, for a total transaction of $337,573.76. Following the completion of the sale, the chief executive officer owned 661,041 shares of the company’s stock, valued at approximately $5,169,340.62. The trade was a 6.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald A. Bergstrom sold 18,895 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $143,979.90. Following the completion of the transaction, the insider owned 422,733 shares in the company, valued at $3,221,225.46. This represents a 4.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 93,302 shares of company stock valued at $724,355. 4.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its holdings in shares of Relay Therapeutics by 11.9% in the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after acquiring an additional 38,812 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Relay Therapeutics by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after buying an additional 5,238 shares during the period. Millennium Management LLC lifted its stake in Relay Therapeutics by 14.6% in the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock valued at $7,710,000 after buying an additional 374,491 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Relay Therapeutics in the first quarter valued at approximately $53,000. Finally, Woodline Partners LP increased its position in shares of Relay Therapeutics by 448.4% during the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after acquiring an additional 1,241,657 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Stock Up 19.2%

The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of -6.25 and a beta of 1.59. The business’s fifty day moving average is $8.33 and its 200 day moving average is $6.67.

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.