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

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) hit a new 52-week high during trading on Friday . The stock traded as high as $13.04 and last traded at $12.54, with a volume of 8890274 shares traded. The stock had previously closed at $10.77.

Analysts Set New Price Targets

Several analysts have recently weighed in on RLAY shares. Citizens Jmp lifted their price objective on shares of Relay Therapeutics from $15.00 to $17.00 and gave the company a “market outperform” rating in a research note on Tuesday, March 17th. HC Wainwright raised their price target on shares of Relay Therapeutics from $14.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. Oppenheimer reaffirmed an “outperform” rating on shares of Relay Therapeutics in a research note on Monday, March 16th. Wells Fargo & Company upped their price objective on shares of Relay Therapeutics from $15.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, March 17th. Finally, Weiss Ratings reissued 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, five have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Relay Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Relay Therapeutics Stock Up 16.4%

The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -7.74 and a beta of 1.57. The stock has a 50 day simple moving average of $9.36 and a 200 day simple moving average of $7.79.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share 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 analyst estimates of $4.34 million. Equities analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Insider Buying and Selling at Relay Therapeutics

In other news, insider Peter Rahmer sold 11,684 shares of Relay Therapeutics 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 transaction, the insider directly owned 277,964 shares in the company, valued at $2,118,085.68. This trade represents a 4.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the insider directly owned 422,733 shares of the company’s stock, valued at approximately $3,221,225.46. The trade was a 4.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 93,302 shares of company stock worth $724,355. Corporate insiders own 4.87% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds have recently added to or reduced their stakes in the stock. Torren Management LLC purchased a new stake in shares of Relay Therapeutics in the fourth quarter worth approximately $30,000. Smartleaf Asset Management LLC lifted its holdings in shares of Relay Therapeutics by 288.6% in the fourth 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. Quadrant Capital Group LLC boosted its position in shares of Relay Therapeutics by 245.1% during the second quarter. Quadrant Capital Group LLC now owns 11,791 shares of the company’s stock valued at $41,000 after buying an additional 8,374 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Relay Therapeutics during the fourth quarter worth $46,000. Finally, Quadrature Capital Ltd bought a new stake in Relay Therapeutics during the second quarter worth $47,000. 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.