Relay Therapeutics (NASDAQ:RLAY) Reaches New 1-Year High – Should You Buy?

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

Analysts Set New Price Targets

RLAY has been the topic of several research analyst reports. The Goldman Sachs Group boosted 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. Wall Street Zen upgraded shares of Relay Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. JonesTrading raised shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Citigroup restated an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday, May 20th. Finally, Barclays lifted their price objective on Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a research note 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. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $23.30.

Relay Therapeutics Stock Down 5.2%

The business has a 50-day moving average price of $14.63 and a two-hundred day moving average price of $11.35. The firm has a market cap of $3.58 billion, a PE ratio of -11.92 and a beta of 1.75.

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

Insider Activity

In related news, 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 value of $3,176,156.11. Following the sale, the chief financial officer owned 177,461 shares of the company’s stock, valued at $3,011,513.17. This trade represents a 51.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Donald A. Bergstrom sold 93,456 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the completion of the sale, the insider directly owned 418,557 shares in the company, valued at approximately $7,090,355.58. This trade represents a 18.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 321,068 shares of company stock valued at $5,292,189 in the last quarter. Company insiders own 5.04% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RLAY. Sanctuary Advisors LLC grew its stake in shares of Relay Therapeutics by 1.1% during the first quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock worth $1,431,000 after purchasing an additional 1,588 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Relay Therapeutics by 26.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock valued at $71,000 after buying an additional 1,757 shares in the last quarter. Abel Hall LLC lifted its holdings in Relay Therapeutics by 16.2% during the 4th quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock worth $110,000 after buying an additional 1,809 shares during the last quarter. Cresset Asset Management LLC lifted its holdings in Relay Therapeutics by 5.0% during the 3rd quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock worth $203,000 after buying an additional 1,848 shares during the last quarter. Finally, Prelude Capital Management LLC boosted its position in shares of Relay Therapeutics by 18.7% during the 3rd quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock worth $103,000 after acquiring an additional 3,100 shares in the last quarter. 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.