Relay Therapeutics Inc (RLAY)
NASDAQ:RLAY
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Relay Therapeutics
(NASDAQ:RLAY)
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Rating:52Neutral
Price Target:
$15.00
▼(-10.50% Downside)
Action:Reiterated
Date:06/10/26
The score is held back primarily by weak financial performance (large losses and persistent negative free cash flow). Technicals are neutral with an improved longer-term trend but limited near-term momentum. Offsetting factors include positive clinical program updates and strengthened liquidity from the recent equity offering, while valuation support is limited given ongoing losses and no dividend.
Positive Factors
Computational, structure-based discovery platform
Relay’s platform centered on protein motion and structure-based discovery is a durable competitive advantage. It supports repeatable target identification and optimization, can accelerate lead generation, attract partnerships, and compound R&D productivity over multiple programs, reducing reliance on single assets.
Negative Factors
High and persistent cash burn
Sustained negative operating and free cash flow indicates the company requires continued external funding to progress trials. Over multiple quarters this elevates execution risk if capital markets tighten and increases the probability of further dilution or delays to critical development milestones.
Read all positive and negative factors
Positive Factors
Negative Factors
Computational, structure-based discovery platform
Relay’s platform centered on protein motion and structure-based discovery is a durable competitive advantage. It supports repeatable target identification and optimization, can accelerate lead generation, attract partnerships, and compound R&D productivity over multiple programs, reducing reliance on single assets.
Read all positive factors
Relay Therapeutics (RLAY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.23B
Dividend YieldN/A
Average Volume (3M)4.27M
Price to Earnings (P/E)―
Beta (1Y)2.11
Revenue Growth39.04%
EPS Growth29.88%
CountryUS
Employees259
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.57
Shares Outstanding217,940,340
10 Day Avg. Volume4,159,226
30 Day Avg. Volume4,271,631
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)2.56
Price to Sales (P/S)94.54
P/FCF Ratio-6.15
Enterprise Value/Market Cap0.78
Enterprise Value/Revenue235.91
Enterprise Value/Gross Profit-43.19
Enterprise Value/Ebitda-9.21
Forecast
1Y Price Target
$23.56Price Target Upside40.55% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering10
EPS Forecast (FY)-1.57
Revenue Forecast (FY)$11.88M
Relay Therapeutics Business Overview & Revenue Model
Company Description
Relay Therapeutics, Inc. is a precision medicine company currently engaged in clinical trials. Its central mission involves revolutionizing the drug discovery process, with a particular focus on enhancing the creation of small molecule therapies f...
How the Company Makes Money
Relay Therapeutics primarily generates revenue through collaboration and licensing arrangements rather than product sales, as it is a clinical-stage company without null commercialized products. Key revenue streams include (1) upfront payments and...
Relay Therapeutics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.68M | 15.36M | 10.01M | 25.55M | 1.38M | 3.03M |
| Gross Profit | -58.31M | 11.80M | 10.01M | 25.55M | 1.38M | 3.03M |
| EBITDA | -273.41M | -272.92M | -380.21M | -374.15M | -306.82M | -223.08M |
| Net Income | -272.70M | -276.48M | -337.71M | -341.97M | -290.51M | -363.87M |
Balance Sheet | ||||||
| Total Assets | 699.61M | 621.33M | 871.30M | 843.98M | 1.10B | 1.01B |
| Cash, Cash Equivalents and Short-Term Investments | 642.07M | 554.52M | 781.32M | 750.09M | 998.92M | 958.07M |
| Total Debt | 31.57M | 32.46M | 48.50M | 53.47M | 57.74M | 22.90M |
| Total Liabilities | 57.43M | 54.27M | 93.50M | 91.98M | 149.55M | 110.64M |
| Stockholders Equity | 642.18M | 567.06M | 777.79M | 752.00M | 950.22M | 897.81M |
Cash Flow | ||||||
| Free Cash Flow | -213.38M | -235.87M | -251.13M | -304.44M | -238.55M | -77.88M |
| Operating Cash Flow | -213.36M | -235.46M | -249.11M | -300.32M | -229.49M | -74.41M |
| Investing Cash Flow | 183.24M | 192.80M | -41.08M | 257.63M | -188.75M | -479.51M |
| Financing Cash Flow | 140.39M | 1.60M | 270.15M | 34.75M | 289.91M | 388.09M |
Relay Therapeutics Technical Analysis
Positive
16.76
Price Trends
14.05
Positive
11.70
Positive
9.13
Positive
Market Momentum
0.31
Negative
58.11
Neutral
45.97
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RLAY, the sentiment is Positive. The current price of 16.76 is above the 20-day moving average (MA) of 13.97, above the 50-day MA of 14.05, and above the 200-day MA of 9.13, indicating a bullish trend. The MACD of 0.31 indicates Negative momentum. The RSI at 58.11 is Neutral, neither overbought nor oversold. The STOCH value of 45.97 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for RLAY.
Relay Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $5.04B | ― | -41.54% | ― | 39.04% | 32.40% | |
52 Neutral | $3.23B | -9.87 | -43.94% | ― | 39.04% | 29.88% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $737.75M | -11.06 | -28.90% | ― | 68.64% | 50.57% | |
49 Neutral | $1.25B | -2.45 | -167.71% | ― | -100.00% | -128.73% | |
44 Neutral | $1.26B | -5.11 | -45.47% | ― | -72.09% | -754.83% | |
44 Neutral | $495.38M | -3.17 | 7.40% | ― | 190.52% | 12.60% |
* Healthcare Sector Average
RLAY
Relay Therapeutics
14.96
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357.49%
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87.66%
Relay Therapeutics Corporate Events
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and ComplianceShareholder Meetings
Relay Therapeutics Expands Authorized Shares at 2026 Meeting
Positive
Jun 9, 2026
On June 9, 2026, Relay Therapeutics, Inc. held its 2026 Annual Meeting of Stockholders, where shareholders elected Douglas S. Ingram and Claire Mazumdar, Ph.D., as class III directors to serve three-year terms ending at the 2029 annual meeting. In...
Business Operations and StrategyPrivate Placements and Financing
Relay Therapeutics Announces Major Underwritten Equity Offering
Positive
May 22, 2026
On May 20, 2026, Relay Therapeutics entered into an underwriting agreement with Jefferies and TD Securities for an underwritten public offering of 22,916,667 shares of common stock at $12.00 per share, with underwriters granted a 30‑day opti...
Business Operations and StrategyProduct-Related Announcements
Relay Therapeutics reports promising Phase 2 zovegalisib data
Positive
May 19, 2026
Relay Therapeutics on May 19, 2026 reported initial Phase 2 ReInspire data for its PI3Kα mutant-selective inhibitor zovegalisib in PIK3CA-driven vascular anomalies, showing a 60% volumetric response rate at 12 weeks among 20 evaluable adults ...
Business Operations and StrategyProduct-Related Announcements
Relay Therapeutics advances zovegalisib combo in breast cancer
Positive
Apr 27, 2026
On April 27, 2026, Relay Therapeutics reported Phase 1/2 ReDiscover data for its triplet regimen of zovegalisib, atirmociclib and fulvestrant in heavily pre-treated, CDK4/6-experienced patients with PI3Kα-mutated, HR+/HER2- metastatic breast ...
Business Operations and StrategyProduct-Related Announcements
Relay Therapeutics Highlights Positive Zovegalisib ReDiscover Trial Data
Positive
Mar 16, 2026
On March 16, 2026, Relay Therapeutics reported Phase 1/2 ReDiscover data for its PI3Kα inhibitor zovegalisib combined with fulvestrant at the recommended Phase 3 dose of 400mg twice daily taken with food in patients with PI3Kα‑muta...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.