Relay Therapeutics (NASDAQ:RLAY) Hits New 1-Year High After Strong Earnings
by Doug Wharley · The Cerbat GemRelay Therapeutics, Inc. (NASDAQ:RLAY – Get Free Report) shares hit a new 52-week high during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $10.99 and last traded at $11.2970, with a volume of 1751195 shares. The stock had previously closed at $9.16.
The company reported ($0.32) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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.
Wall Street Analyst Weigh In
Several research analysts recently commented on the company. 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. Wells Fargo & Company upgraded Relay Therapeutics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $6.00 to $13.00 in a research note on Friday, December 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.00.
View Our Latest Research Report on RLAY
Insider Buying and Selling at Relay Therapeutics
In related news, insider Donald A. Bergstrom sold 18,895 shares of the company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total value of $143,979.90. Following the transaction, the insider directly owned 422,733 shares in the company, valued at approximately $3,221,225.46. This represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Thomas Catinazzo sold 13,820 shares of the business’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 $105,308.40. Following the completion of the sale, the chief financial officer directly owned 250,996 shares of the company’s stock, valued at $1,912,589.52. This represents a 5.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 93,302 shares of company stock worth $724,355. Insiders own 4.87% of the company’s stock.
Institutional Trading of Relay Therapeutics
A number of institutional investors have recently modified their holdings of RLAY. Mirae Asset Global Investments Co. Ltd. lifted its position in 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. Abel Hall LLC lifted its holdings in shares of 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 acquiring an additional 1,809 shares during the period. Cresset Asset Management LLC increased its stake in Relay Therapeutics by 5.0% in the third quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock valued at $203,000 after acquiring an additional 1,848 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its position in Relay Therapeutics by 8.1% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 27,871 shares of the company’s stock valued at $145,000 after purchasing an additional 2,079 shares in the last quarter. Finally, Prelude Capital Management LLC lifted its stake in Relay Therapeutics by 18.7% during the third quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock worth $103,000 after purchasing an additional 3,100 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors.
Relay Therapeutics Stock Performance
The stock has a fifty day simple moving average of $8.33 and a two-hundred day simple moving average of $6.67. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -6.25 and a beta of 1.59.
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.