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

Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) gapped up before the market opened on Tuesday . The stock had previously closed at $12.10, but opened at $13.00. Relay Therapeutics shares last traded at $12.9860, with a volume of 5,361,414 shares traded.

Wall Street Analyst Weigh In

RLAY has been the subject of several research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Wednesday, April 8th. Barclays increased their price objective on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 8th. Wall Street Zen downgraded shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Citizens Jmp increased their target price on shares of Relay Therapeutics from $17.00 to $19.00 and gave the stock a “market outperform” rating in a report on Tuesday, April 28th. Finally, HC Wainwright increased their target price on shares of Relay Therapeutics from $19.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Relay Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $20.56.

Relay Therapeutics Stock Up 11.3%

The company’s fifty day moving average is $12.52 and its 200 day moving average is $9.59. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of -8.64 and a beta of 1.74.

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

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 17,717 shares of the stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $12.86, for a total value of $227,840.62. Following the completion of the sale, the chief financial officer owned 195,178 shares in the company, valued at $2,509,989.08. This trade represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 40,449 shares of company stock worth $532,889 in the last ninety days. Corporate insiders own 5.04% of the company’s stock.

Institutional Trading of Relay Therapeutics

A number of large investors have recently added to or reduced their stakes in the company. Commodore Capital LP lifted its stake in Relay Therapeutics by 27.3% in the third 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 lifted its stake in Relay Therapeutics by 14.7% in the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock valued at $110,010,000 after acquiring an additional 1,662,193 shares during the last quarter. Vanguard Group Inc. lifted its stake in Relay Therapeutics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock valued at $81,990,000 after acquiring an additional 295,701 shares during the last quarter. Bellevue Group AG lifted its stake in Relay Therapeutics by 1.4% in the third quarter. Bellevue Group AG now owns 8,345,610 shares of the company’s stock valued at $43,564,000 after acquiring an additional 114,740 shares during the last quarter. Finally, State Street Corp lifted its stake in Relay Therapeutics by 26.8% in the fourth quarter. State Street Corp now owns 6,426,111 shares of the company’s stock valued at $54,365,000 after acquiring an additional 1,360,121 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.