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

Relay Therapeutics, Inc. (NASDAQ:RLAY) reached a new 52-week high on Monday . The stock traded as high as $9.19 and last traded at $8.6340, with a volume of 223483 shares changing hands. The stock had previously closed at $8.92.

Analyst Upgrades and Downgrades

RLAY has been the subject of several recent research reports. Oppenheimer raised Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price objective for the company in a research note on Monday, January 26th. Wells Fargo & Company raised shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $6.00 to $13.00 in a research note on Friday, December 12th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $16.57.

Relay Therapeutics Price Performance

The stock has a 50 day simple moving average of $8.02 and a two-hundred day simple moving average of $6.18. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -4.89 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). As a group, research analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Insider Activity

In other news, insider Donald A. Bergstrom sold 18,895 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total value of $143,979.90. Following the completion of the sale, the insider owned 422,733 shares of the company’s stock, valued at $3,221,225.46. This represents a 4.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas Catinazzo sold 13,820 shares of the firm’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 sale, the chief financial officer owned 250,996 shares of the company’s stock, valued at $1,912,589.52. This represents a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 93,302 shares of company stock valued at $724,355 in the last ninety days. 4.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RLAY. Mirae Asset Global Investments Co. Ltd. raised its position in Relay Therapeutics by 26.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock valued at $71,000 after purchasing an additional 1,757 shares during the period. Cresset Asset Management LLC grew its holdings 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 period. Vanguard Personalized Indexing Management LLC increased its position in shares of Relay Therapeutics by 8.1% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 27,871 shares of the company’s stock worth $145,000 after purchasing an additional 2,079 shares during the last quarter. Prelude Capital Management LLC increased its position in shares of Relay Therapeutics by 18.7% during the 3rd quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock worth $103,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Relay Therapeutics by 5.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 68,615 shares of the company’s stock valued at $237,000 after buying an additional 3,275 shares during the period. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

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.