Relay Therapeutics (NASDAQ:RLAY) Trading Up 7.2% – Here’s What Happened

Relay Therapeutics, Inc. (NASDAQ:RLAY)’s share price was up 7.2% during mid-day trading on Monday . The stock traded as high as $8.38 and last traded at $8.2150. Approximately 1,007,188 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 2,158,824 shares. The stock had previously closed at $7.66.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Oppenheimer upgraded shares of Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price target on the stock in a report on Monday, January 26th. Wells Fargo & Company upgraded Relay Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $6.00 to $13.00 in a research note on Friday, December 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.57.

Relay Therapeutics Stock Performance

The business has a 50-day moving average of $7.97 and a 200 day moving average of $6.01. The stock has a market cap of $1.41 billion, a PE ratio of -4.66 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). Equities analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Peter Rahmer sold 11,684 shares of the business’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $89,032.08. Following the sale, the insider owned 277,964 shares of the company’s stock, valued at approximately $2,118,085.68. The trade was a 4.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Thomas Catinazzo sold 13,820 shares of the business’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 transaction of $105,308.40. Following the completion of the sale, the chief financial officer owned 250,996 shares in the company, valued at $1,912,589.52. The trade was a 5.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 93,302 shares of company stock valued at $724,355 over the last three months. Corporate insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLAY. Commodore Capital LP grew its position in Relay Therapeutics by 27.3% during the third quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock valued at $88,740,000 after purchasing an additional 3,650,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in Relay Therapeutics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock valued at $81,990,000 after purchasing an additional 295,701 shares during the last quarter. Bellevue Group AG grew its stake in Relay Therapeutics by 1.4% in the 3rd quarter. Bellevue Group AG now owns 8,345,610 shares of the company’s stock valued at $43,564,000 after buying an additional 114,740 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Relay Therapeutics by 5.2% in the second quarter. Geode Capital Management LLC now owns 3,229,666 shares of the company’s stock worth $11,176,000 after purchasing an additional 159,548 shares during the period. Finally, Millennium Management LLC grew its holdings in Relay Therapeutics by 14.6% in the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock valued at $7,710,000 after buying an additional 374,491 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

About Relay Therapeutics

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.