Relay Therapeutics (NASDAQ:RLAY) Hits New 52-Week High – What’s Next?

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares hit a new 52-week high during trading on Tuesday . The company traded as high as $19.99 and last traded at $20.0110, with a volume of 1295446 shares traded. The stock had previously closed at $18.90.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RLAY. UBS Group set a $26.00 target price on Relay Therapeutics in a research note on Tuesday, May 19th. Citizens Jmp boosted 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, May 20th. HC Wainwright upped their price target on Relay Therapeutics from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. JonesTrading raised shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group lifted their price objective on shares of Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Two research 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. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $23.30.

Relay Therapeutics Trading Up 4.2%

The business’s 50-day simple moving average is $14.82 and its two-hundred day simple moving average is $11.64. The company has a market capitalization of $3.77 billion, a PE ratio of -12.54 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The firm had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.58 million. On average, analysts forecast that Relay Therapeutics, Inc. will post -1.55 EPS for the current year.

Insiders Place Their Bets

In other news, insider Peter Rahmer sold 50,000 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total transaction of $954,500.00. Following the completion of the transaction, the insider directly owned 225,857 shares in the company, valued at approximately $4,311,610.13. This represents a 18.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald A. Bergstrom sold 93,456 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the sale, the insider directly owned 418,557 shares of the company’s stock, valued at $7,090,355.58. The trade was a 18.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 353,351 shares of company stock worth $6,016,191 in the last three months. 5.04% of the stock is owned by insiders.

Institutional Trading of Relay Therapeutics

Institutional investors have recently added to or reduced their stakes in the stock. Commodore Capital LP boosted its stake in Relay Therapeutics by 27.3% during the 3rd quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock valued at $88,740,000 after acquiring an additional 3,650,000 shares during the last quarter. Casdin Capital LLC raised its stake in shares of Relay Therapeutics by 14.7% in the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock valued at $110,010,000 after purchasing an additional 1,662,193 shares in the last quarter. Perceptive Advisors LLC raised its stake in shares of Relay Therapeutics by 412.3% in the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after purchasing an additional 7,847,896 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Relay Therapeutics by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock worth $81,990,000 after purchasing an additional 295,701 shares during the last quarter. Finally, Bellevue Group AG lifted its position in shares of Relay Therapeutics by 1.4% during the third quarter. Bellevue Group AG now owns 8,345,610 shares of the company’s stock worth $43,564,000 after purchasing an additional 114,740 shares during the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

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.