Relay Therapeutics (RLAY)
NASDAQ:RLAY
Top Page
Relay Therapeutics
(NASDAQ:RLAY)
Select Model
Select Model
Rating:56Neutral
Price Target:
$15.00
▲(0.40% Upside)
Action:ReiteratedDate:04/09/26
Overall score reflects strong recent price momentum and positive clinical/regulatory developments (Breakthrough Therapy designation and supportive trial data), offset by weak fundamentals—persistent losses, negative free cash flow, and ongoing cash burn—plus limited support from traditional valuation metrics due to negative earnings and no dividend.
Positive Factors
Regulatory Momentum
Breakthrough Therapy designation is a durable regulatory catalyst: it increases FDA engagement, can shorten development timelines and potentially expedites review. This materially raises the probability of approval for zovegalisib and strengthens Relay's negotiating leverage with partners and payers.
Negative Factors
Persistent Cash Burn
Chronic negative operating and free cash flow forces dependence on external financing or partner funding to support Phase 3 and commercialization. Ongoing burn erodes flexibility, risks dilution, and constrains the firm's ability to self-fund multiple programs or sustain prolonged development timelines.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulatory Momentum
Breakthrough Therapy designation is a durable regulatory catalyst: it increases FDA engagement, can shorten development timelines and potentially expedites review. This materially raises the probability of approval for zovegalisib and strengthens Relay's negotiating leverage with partners and payers.
Read all positive factors
Relay Therapeutics (RLAY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.67B
Dividend YieldN/A
Average Volume (3M)3.16M
Price to Earnings (P/E)―
Beta (1Y)2.19
Revenue Growth-16.50%
EPS Growth33.02%
CountryUS
Employees259
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.32
Shares Outstanding178,725,810
10 Day Avg. Volume3,761,108
30 Day Avg. Volume3,163,168
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 Cap0.98
Enterprise Value/Revenue170.53
Enterprise Value/Gross Profit186.92
Enterprise Value/Ebitda-9.01
Forecast
1Y Price Target
$18.33Price Target Upside22.69% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-1.53
Revenue Forecast (FY)$6.49M
Relay Therapeutics Business Overview & Revenue Model
Company Description
Relay Therapeutics, Inc. operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disea...
How the Company Makes Money
Relay Therapeutics has historically generated revenue primarily from collaboration and licensing arrangements (rather than product sales), because it is a clinical-stage company without widely commercialized, approved therapeutics. Under these typ...
Relay Therapeutics Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 15.36M | 10.01M | 25.55M | 1.38M | 3.03M |
| Gross Profit | 11.80M | 10.01M | 25.55M | 1.38M | 3.03M |
| EBITDA | -272.92M | -380.21M | -374.15M | -306.82M | -223.08M |
| Net Income | -276.48M | -337.71M | -341.97M | -290.51M | -363.87M |
Balance Sheet | |||||
| Total Assets | 621.33M | 871.30M | 843.98M | 1.10B | 1.01B |
| Cash, Cash Equivalents and Short-Term Investments | 554.52M | 781.32M | 750.09M | 998.92M | 958.07M |
| Total Debt | 32.46M | 48.50M | 53.47M | 57.74M | 22.90M |
| Total Liabilities | 54.27M | 93.50M | 91.98M | 149.55M | 110.64M |
| Stockholders Equity | 567.06M | 777.79M | 752.00M | 950.22M | 897.81M |
Cash Flow | |||||
| Free Cash Flow | -235.87M | -251.13M | -304.44M | -238.55M | -77.88M |
| Operating Cash Flow | -235.46M | -249.11M | -300.32M | -229.49M | -74.41M |
| Investing Cash Flow | 192.80M | -41.08M | 257.63M | -188.75M | -479.51M |
| Financing Cash Flow | 1.60M | 270.15M | 34.75M | 289.91M | 388.09M |
Relay Therapeutics Technical Analysis
Positive
14.94
Price Trends
9.97
Positive
8.88
Positive
6.77
Positive
Market Momentum
1.25
Negative
80.15
Negative
96.59
Negative
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 14.94 is above the 20-day moving average (MA) of 11.11, above the 50-day MA of 9.97, and above the 200-day MA of 6.77, indicating a bullish trend. The MACD of 1.25 indicates Negative momentum. The RSI at 80.15 is Negative, neither overbought nor oversold. The STOCH value of 96.59 is Negative, 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 |
|---|---|---|---|---|---|---|---|
56 Neutral | $2.67B | -5.25 | -43.17% | ― | -16.50% | 33.02% | |
55 Neutral | $2.95B | -10.13 | -50.30% | ― | 53.28% | 21.77% | |
54 Neutral | $1.07B | -10.26 | -34.23% | ― | 522.13% | 62.68% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | $1.40B | -5.79 | -39.69% | ― | -27.61% | -69.49% | |
50 Neutral | $1.17B | -1.76 | -156.98% | ― | ― | -38.04% | |
46 Neutral | $588.74M | -3.93 | 6.86% | ― | ― | 2.35% |
* Healthcare Sector Average
RLAY
Relay Therapeutics
14.94
12.37
481.32%
GERN
Geron
1.67
0.35
26.52%
IMTX
Immatics
10.43
6.20
146.57%
TNGX
Tango Therapeutics
19.95
18.61
1388.81%
PROK
ProKidney
1.95
1.21
163.51%
ZBIO
Zenas BioPharma, Inc.
20.44
11.94
140.47%
Relay Therapeutics Corporate Events
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...
Business Operations and StrategyRegulatory Filings and Compliance
Relay Therapeutics Updates Bylaws on Federal Securities Litigation
Positive
Mar 12, 2026
On March 6, 2026, Relay Therapeutics, Inc. amended and restated its bylaws to specify that federal district courts in the United States will serve as the exclusive forum for complaints arising under the Securities Act of 1933 and the Securities Ex...
Business Operations and StrategyProduct-Related AnnouncementsRegulatory Filings and Compliance
Relay Therapeutics Wins FDA Breakthrough Therapy Designation
Positive
Feb 3, 2026
On February 3, 2026, Relay Therapeutics announced that the U.S. Food and Drug Administration granted Breakthrough Therapy designation to its lead drug candidate zovegalisib (RLY-2608), in combination with fulvestrant, for adults with PIK3CA-mutant...
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.