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

Relay Therapeutics, Inc. (NASDAQ:RLAY) hit a new 52-week high on Tuesday . The stock traded as high as $19.99 and last traded at $20.0110, with a volume of 1295446 shares. The stock had previously closed at $18.90.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on RLAY. HC Wainwright upped their price objective on shares of Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Citizens Jmp lifted their target price on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a research note on Wednesday, May 20th. Guggenheim lifted their target price on shares of Relay Therapeutics from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Oppenheimer boosted their target price on shares of Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. initiated coverage on shares of Relay Therapeutics in a research note on Wednesday. They set an “overweight” rating and a $28.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Relay Therapeutics currently has an average rating of “Buy” and a consensus target price of $23.73.

Relay Therapeutics Price Performance

The stock has a market cap of $3.76 billion, a price-to-earnings ratio of -12.50 and a beta of 1.67. The stock has a fifty day moving average of $15.00 and a 200 day moving average of $11.81.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The company had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.58 million. As a group, equities analysts expect that Relay Therapeutics, Inc. will post -1.55 earnings per share for the current fiscal year.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 48,199 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total transaction of $943,736.42. Following the sale, the chief executive officer directly owned 615,898 shares of the company’s stock, valued at approximately $12,059,282.84. This trade represents a 7.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Rahmer sold 50,000 shares of Relay Therapeutics stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total value of $954,500.00. Following the transaction, the insider owned 225,857 shares of the company’s stock, valued at $4,311,610.13. The trade was a 18.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 426,127 shares of company stock valued at $7,426,087 in the last three months. Company insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Torren Management LLC purchased a new stake in Relay Therapeutics in the 4th quarter worth approximately $30,000. KBC Group NV purchased a new position in shares of Relay Therapeutics during the 1st quarter valued at approximately $34,000. Smartleaf Asset Management LLC increased its holdings in shares of Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after purchasing an additional 3,287 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at $46,000. Finally, Captrust Financial Advisors acquired a new position in shares of Relay Therapeutics in the 2nd quarter valued at $49,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Relay Therapeutics Company Profile

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.