Relay Therapeutics (NASDAQ:RLAY) Shares Up 4.9% – Should You Buy?

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) shot up 4.9% on Wednesday . The stock traded as high as $8.76 and last traded at $8.72. 364,290 shares traded hands during trading, a decline of 83% from the average session volume of 2,160,867 shares. The stock had previously closed at $8.31.

Analysts Set New Price Targets

RLAY has been the subject of a number of research reports. Guggenheim began coverage on Relay Therapeutics in a research note on Thursday, September 4th. They issued a “buy” rating and a $15.00 target price for the company. HC Wainwright reduced their price objective on Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, August 26th. Wells Fargo & Company raised Relay Therapeutics from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $6.00 to $13.00 in a research report on Friday, December 12th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a report on Tuesday, October 14th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Relay Therapeutics Price Performance

The firm’s fifty day moving average is $7.26 and its two-hundred day moving average is $5.12. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -4.94 and a beta of 1.50.

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

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 62,073 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $7.00, for a total value of $434,511.00. Following the completion of the sale, the chief executive officer directly owned 703,215 shares in the company, valued at $4,922,505. This represents a 8.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas Catinazzo sold 21,664 shares of Relay Therapeutics stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $7.29, for a total value of $157,930.56. Following the transaction, the chief financial officer owned 313,631 shares in the company, valued at approximately $2,286,369.99. This trade represents a 6.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 155,163 shares of company stock worth $1,117,630 in the last three months. 4.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Relay Therapeutics

Several large investors have recently made changes to their positions in the business. Acadian Asset Management LLC boosted its position in shares of Relay Therapeutics by 2,256.1% in the first quarter. Acadian Asset Management LLC now owns 682,028 shares of the company’s stock worth $1,785,000 after buying an additional 653,081 shares during the period. Franklin Resources Inc. lifted its stake in Relay Therapeutics by 130.4% in the 2nd quarter. Franklin Resources Inc. now owns 394,122 shares of the company’s stock worth $1,364,000 after acquiring an additional 223,042 shares in the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in Relay Therapeutics during the 1st quarter worth about $223,000. Geode Capital Management LLC grew its stake in Relay Therapeutics by 5.2% during the 2nd quarter. Geode Capital Management LLC now owns 3,229,666 shares of the company’s stock valued at $11,176,000 after acquiring an additional 159,548 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Relay Therapeutics by 54.8% in the 1st quarter. Invesco Ltd. now owns 184,831 shares of the company’s stock valued at $484,000 after purchasing an additional 65,414 shares during the period. Institutional investors 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.