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

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $9.19 and last traded at $8.6340, with a volume of 223483 shares. The stock had previously closed at $8.92.

Analysts Set New Price Targets

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

Relay Therapeutics Stock Up 3.9%

The business has a fifty day moving average of $8.07 and a 200 day moving average of $6.25. The firm has a market cap of $1.56 billion, a P/E ratio of -5.14 and a beta of 1.59.

Insiders Place Their Bets

In other news, insider Donald A. Bergstrom sold 18,895 shares of the firm’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 $143,979.90. Following the completion of the sale, the insider owned 422,733 shares in the company, valued at approximately $3,221,225.46. This trade represents a 4.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Peter Rahmer sold 11,684 shares of Relay Therapeutics stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total transaction of $89,032.08. Following the sale, the insider directly owned 277,964 shares of the company’s stock, valued at $2,118,085.68. The trade was a 4.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 93,302 shares of company stock valued at $724,355 over the last 90 days. 4.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Relay Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Torren Management LLC acquired a new stake in Relay Therapeutics in the 4th quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Relay Therapeutics by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock worth $71,000 after purchasing an additional 1,757 shares during the period. Quinn Opportunity Partners LLC acquired a new stake in shares of Relay Therapeutics in the second quarter valued at approximately $35,000. FNY Investment Advisers LLC boosted its stake in shares of Relay Therapeutics by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock valued at $34,000 after buying an additional 5,000 shares during the period. Finally, May Hill Capital LLC bought a new stake in shares of Relay Therapeutics in the second quarter valued at approximately $38,000. 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.