Relay Therapeutics (NASDAQ:RLAY) Hits New 12-Month High After Better-Than-Expected Earnings

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) hit a new 52-week high on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $10.99 and last traded at $11.2970, with a volume of 1751195 shares traded. The stock had previously closed at $9.16.

The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.06. The company had revenue of $7.00 million for the quarter, compared to the consensus estimate of $4.34 million.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Oppenheimer raised shares of Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price objective for the company in a research note on Monday, January 26th. Wells Fargo & Company increased their price objective on Relay Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.40.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 18,895 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $143,979.90. Following the completion of the sale, the insider owned 422,733 shares of the company’s stock, valued at $3,221,225.46. This represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjiv Patel sold 43,168 shares of Relay Therapeutics stock in a transaction that occurred 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 directly owned 661,041 shares in the company, valued at $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. Over the last 90 days, insiders have sold 93,302 shares of company stock worth $724,355. 4.87% of the stock is owned by corporate insiders.

Institutional Trading of Relay Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Torren Management LLC bought a new position in shares of Relay Therapeutics during the fourth quarter valued at about $30,000. Quinn Opportunity Partners LLC purchased a new stake in Relay Therapeutics during the 2nd quarter valued at about $35,000. Smartleaf Asset Management LLC grew its position in Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after acquiring an additional 3,287 shares during the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in Relay Therapeutics in the 2nd quarter worth approximately $39,000. Finally, Quadrant Capital Group LLC increased its stake in Relay Therapeutics by 245.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 11,791 shares of the company’s stock worth $41,000 after purchasing an additional 8,374 shares during the period. 96.98% of the stock is owned by institutional investors.

Relay Therapeutics Stock Up 12.0%

The stock has a market cap of $1.78 billion, a P/E ratio of -6.33 and a beta of 1.59. The company has a 50-day simple moving average of $8.37 and a two-hundred day simple moving average of $6.72.

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.