Relay Therapeutics (NASDAQ:RLAY) Reaches New 52-Week High – Time to Buy?

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

Analyst Ratings Changes

RLAY has been the subject of a number of research reports. Barclays upped their price objective on Relay Therapeutics from $21.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Wells Fargo & Company boosted their price target on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Citigroup reiterated an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday, May 20th. The Goldman Sachs Group increased their price objective on Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Finally, Citizens Jmp raised 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 analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $23.30.

Relay Therapeutics Stock Up 8.7%

The business has a fifty day moving average of $14.25 and a 200 day moving average of $10.83. The company has a market cap of $3.31 billion, a P/E ratio of -10.96 and a beta of 1.75.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data 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 business had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.58 million. On average, sell-side analysts anticipate that Relay Therapeutics, Inc. will post -1.55 EPS for the current fiscal year.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 17,717 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $12.86, for a total value of $227,840.62. Following the completion of the sale, the chief financial officer directly owned 195,178 shares in the company, valued at $2,509,989.08. This trade represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders have sold 40,449 shares of company stock valued at $532,889 over the last ninety days. 5.04% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds have recently made changes to their positions in the company. Torren Management LLC purchased a new position in shares of Relay Therapeutics in the 4th quarter worth about $30,000. KBC Group NV purchased a new stake in shares of Relay Therapeutics during the first quarter valued at $34,000. Smartleaf Asset Management LLC increased its holdings in 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 buying an additional 3,287 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Relay Therapeutics in the 4th quarter worth about $46,000. Finally, Captrust Financial Advisors bought a new position in Relay Therapeutics during the 2nd quarter valued at about $49,000. 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.