Relay Therapeutics (NASDAQ:RLAY) Hits New 52-Week High on Analyst Upgrade

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares hit a new 52-week high during mid-day trading on Friday after Guggenheim raised their price target on the stock from $15.00 to $22.00. Guggenheim currently has a buy rating on the stock. Relay Therapeutics traded as high as $11.49 and last traded at $10.8950, with a volume of 442372 shares trading hands. The stock had previously closed at $10.55.

RLAY has been the topic of several other research reports. Wells Fargo & Company raised their price target on shares of Relay Therapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, February 27th. Oppenheimer upgraded shares of Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a research note on Monday, January 26th. Finally, Weiss Ratings reaffirmed 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 issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.80.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 18,895 shares of the firm’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 $143,979.90. Following the transaction, the insider owned 422,733 shares of the company’s stock, valued at approximately $3,221,225.46. This trade represents a 4.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter Rahmer sold 11,684 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 $89,032.08. Following the completion of the sale, the insider owned 277,964 shares of the company’s stock, valued at approximately $2,118,085.68. This represents a 4.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 93,302 shares of company stock valued at $724,355. Insiders own 4.87% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

A number of large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings 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 buying an additional 1,757 shares during the period. Abel Hall LLC raised its position in shares of Relay Therapeutics by 16.2% in 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 in the last quarter. Cresset Asset Management LLC lifted its stake in shares of Relay Therapeutics by 5.0% during the 3rd quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock worth $203,000 after purchasing an additional 1,848 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted 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 boosted its position in Relay Therapeutics by 18.7% during the third quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock valued at $103,000 after purchasing an additional 3,100 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Stock Down 1.8%

The firm has a 50 day simple moving average of $8.71 and a 200-day simple moving average of $7.19. The company has a market cap of $1.85 billion, a PE ratio of -6.40 and a beta of 1.55.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.06. The firm had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $4.34 million. As a group, equities analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

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.