Relay Therapeutics (NASDAQ:RLAY) Sets New 1-Year High – What’s Next?
by Teresa Graham · The Cerbat GemRelay Therapeutics, Inc. (NASDAQ:RLAY – Get Free Report) shares hit a new 52-week high during trading on Friday . The company traded as high as $13.04 and last traded at $12.54, with a volume of 8890274 shares trading hands. The stock had previously closed at $10.77.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on RLAY. Citizens Jmp boosted their target price on Relay Therapeutics from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Tuesday, March 17th. Oppenheimer reiterated an “outperform” rating on shares of Relay Therapeutics in a report on Monday, March 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, January 9th. HC Wainwright boosted their price objective on Relay Therapeutics from $14.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Finally, Wells Fargo & Company upped their target price on shares of Relay Therapeutics from $15.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $18.00.
Read Our Latest Report on RLAY
Relay Therapeutics Stock Performance
The firm’s 50-day simple moving average is $9.47 and its 200 day simple moving average is $7.88. The company has a market cap of $2.24 billion, a P/E ratio of -7.74 and a beta of 1.57.
Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.06. The company had revenue of $7.00 million during the quarter, compared to the consensus estimate of $4.34 million. As a group, research analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.
Insider Buying and Selling
In other news, insider Donald A. Bergstrom sold 18,895 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total transaction of $143,979.90. Following the completion of the transaction, the insider directly owned 422,733 shares in the company, valued at approximately $3,221,225.46. The trade was a 4.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjiv Patel sold 43,168 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $7.82, for a total value of $337,573.76. Following the completion of the sale, the chief executive officer directly owned 661,041 shares of the company’s stock, valued at approximately $5,169,340.62. This trade represents a 6.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 93,302 shares of company stock worth $724,355 in the last ninety days. 4.87% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Torren Management LLC acquired a new stake in Relay Therapeutics in the fourth quarter worth $30,000. Smartleaf Asset Management LLC grew its holdings 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 valued at $37,000 after buying 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% in the 4th 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. Finally, Abel Hall LLC acquired a new stake in Relay Therapeutics during the 3rd quarter worth $58,000. Institutional investors and hedge funds own 96.98% of the company’s stock.
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.