Relay Therapeutics (NASDAQ:RLAY) Trading 6% Higher – Should You Buy?

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares were up 6% during trading on Tuesday . The stock traded as high as $10.50 and last traded at $10.38. Approximately 1,606,217 shares changed hands during trading, a decline of 31% from the average daily volume of 2,320,765 shares. The stock had previously closed at $9.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RLAY shares. Weiss Ratings reaffirmed 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 objective on the stock in a research note on Monday, January 26th. Finally, Wells Fargo & Company boosted their target price on Relay Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.40.

Relay Therapeutics Price Performance

The firm has a 50-day simple moving average of $8.45 and a 200 day simple moving average of $6.88. The stock has a market capitalization of $1.74 billion, a P/E ratio of -5.99 and a beta of 1.55.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.06. The firm had revenue of $7.00 million for the quarter, compared to the consensus estimate of $4.34 million. Sell-side analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

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

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Torren Management LLC bought a new stake in Relay Therapeutics in the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC lifted its position in shares of Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after purchasing an additional 3,287 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Relay Therapeutics in the 4th quarter valued at $46,000. Mirae Asset Global Investments Co. Ltd. increased its position 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 buying an additional 1,757 shares during the period. Finally, Quinn Opportunity Partners LLC bought a new position in Relay Therapeutics during the second quarter worth $35,000. 96.98% of the stock is currently owned by institutional investors.

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.