Relay Therapeutics (NASDAQ:RLAY) Sees Unusually-High Trading Volume on Analyst Upgrade

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares saw strong trading volume on Thursday after JonesTrading upgraded the stock from a hold rating to a strong-buy rating. 3,223,328 shares were traded during mid-day trading, an increase of 9% from the previous session’s volume of 2,958,564 shares.The stock last traded at $14.5950 and had previously closed at $13.02.

Several other research analysts have also weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Wednesday, April 8th. Citizens Jmp raised their price target on Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Wednesday. Barclays lifted their price objective on Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday. The Goldman Sachs Group increased their target price on Relay Therapeutics from $13.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, UBS Group set a $26.00 target price on shares of Relay Therapeutics in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $22.60.

Insider Activity

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $12.86, for a total value of $227,840.62. Following the sale, the chief financial officer owned 195,178 shares of the company’s stock, valued at $2,509,989.08. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 40,449 shares of company stock valued at $532,889. Company insiders own 5.04% of the company’s stock.

Trending Headlines about Relay Therapeutics

Here are the key news stories impacting Relay Therapeutics this week:

• Positive Sentiment: Relay Therapeutics received upgraded analyst sentiment, including a JonesTrading upgrade to strong-buy and recent price-target increases from other firms, reinforcing optimism around the stock’s longer-term upside. Zacks.com
• Positive Sentiment: Investors continue reacting to encouraging clinical data for zovegalisib, Relay’s lead asset, including early results in vascular anomalies that suggest differentiated safety and efficacy and could expand the drug’s commercial potential beyond breast cancer.
• Neutral Sentiment: The company also announced a $275 million public offering priced at $12 per share, which should strengthen the balance sheet and fund development, but it also adds new shares to the market. Article Title
• Negative Sentiment: Near-term pressure likely came from the dilution risk tied to the share offering, which can weigh on existing shareholders even though it improves financing flexibility.
• Negative Sentiment: Relay had previously disclosed a smaller proposed offering, adding to investor focus on capital raising rather than just pipeline progress. Article Title

Institutional Investors Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Commodore Capital LP bought a new stake in shares of Relay Therapeutics in the second quarter worth $46,191,000. Spruce Street Capital LP bought a new position in Relay Therapeutics in the fourth quarter valued at $25,246,000. EcoR1 Capital LLC acquired a new stake in Relay Therapeutics in the 1st quarter valued at $18,952,000. Perceptive Advisors LLC bought a new stake in Relay Therapeutics during the 4th quarter worth about $16,101,000. Finally, TCG Crossover Management LLC acquired a new position in shares of Relay Therapeutics during the 3rd quarter worth about $9,450,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Stock Performance

The company has a fifty day moving average price of $12.62 and a two-hundred day moving average price of $9.66. The company has a market cap of $2.76 billion, a P/E ratio of -9.19 and a beta of 1.74.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The company had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.58 million. Research analysts anticipate that Relay Therapeutics, Inc. will post -1.6 EPS for the current year.

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.