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Relay Therapeutics
(NASDAQ:RLAY)
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Rating:55Neutral
Price Target:
$16.50
▼(-19.79% Downside)
Action:Reiterated
Date:08/07/26
Overall score reflects a strong trading trend and some positive clinical progress, but it is held back primarily by deep ongoing losses, negative gross profit, and heavy cash burn that heighten financing/dilution dependence; valuation offers limited support given negative earnings.
Positive Factors
Low Leverage
Very low leverage gives Relay greater financial flexibility than heavily indebted biotechnology peers and limits near-term interest and refinancing pressure. This supports continued investment in clinical programs and preserves options to raise capital or pursue partnerships as development milestones approach.
Negative Factors
Deep and Persistent Losses
Large ongoing losses and negative gross profit show that Relay has not yet established a scalable commercial model. Continued operating deficits can consume capital before products generate meaningful revenue, increase dependence on financing, and make future earnings highly dependent on successful clinical execution.
Read all positive and negative factors
Positive Factors
Negative Factors
Low Leverage
Very low leverage gives Relay greater financial flexibility than heavily indebted biotechnology peers and limits near-term interest and refinancing pressure. This supports continued investment in clinical programs and preserves options to raise capital or pursue partnerships as development milestones approach.
Read all positive factors
Relay Therapeutics (RLAY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$3.97B
Dividend YieldN/A
Average Volume (3M)2.96M
Price to Earnings (P/E)―
Beta (1Y)1.95
Revenue Growth23.86%
EPS Growth19.60%
CountryUS
Employees202
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.57
Shares Outstanding219,141,630
10 Day Avg. Volume2,016,185
30 Day Avg. Volume2,959,419
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 Cap0.73
Enterprise Value/Revenue281.65
Enterprise Value/Gross Profit-49.71
Enterprise Value/Ebitda-10.27
Forecast
1Y Price Target
$27.14Price Target Upside31.95% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering8
EPS Forecast (FY)-1.6
Revenue Forecast (FY)$11.16M
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 from collaboration-related arrangements rather than product sales, as it is a clinical-stage company. Key revenue streams include (1) upfront payments and payments for research funding received under ...
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 | 10.35M | 15.36M | 10.01M | 25.55M | 1.38M | 3.03M |
| Gross Profit | -58.64M | 11.80M | -305.43M | -300.84M | -241.62M | -166.36M |
| EBITDA | -283.83M | -272.92M | -380.21M | -374.15M | -306.82M | -223.08M |
| Net Income | -286.04M | -276.48M | -337.71M | -341.97M | -290.51M | -363.87M |
Balance Sheet | ||||||
| Total Assets | 967.46M | 621.33M | 871.30M | 843.98M | 1.10B | 1.01B |
| Cash, Cash Equivalents and Short-Term Investments | 910.93M | 554.52M | 781.32M | 750.09M | 998.92M | 958.07M |
| Total Debt | 30.66M | 32.46M | 48.50M | 53.47M | 57.74M | 22.90M |
| Total Liabilities | 77.45M | 54.27M | 93.50M | 91.98M | 149.55M | 110.64M |
| Stockholders Equity | 890.01M | 567.06M | 777.79M | 752.00M | 950.22M | 897.81M |
Cash Flow | ||||||
| Free Cash Flow | -212.21M | -235.87M | -251.13M | -304.44M | -238.55M | -77.88M |
| Operating Cash Flow | -212.21M | -235.46M | -249.11M | -300.32M | -229.49M | -74.41M |
| Investing Cash Flow | -244.94M | 192.80M | -41.08M | 257.63M | -188.75M | -479.51M |
| Financing Cash Flow | 463.47M | 1.60M | 270.15M | 34.75M | 289.91M | 388.09M |
Relay Therapeutics Technical Analysis
Positive
20.57
Price Trends
18.63
Negative
18.37
Negative
14.77
Positive
Market Momentum
-0.15
Negative
50.15
Neutral
71.84
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 20.57 is above the 20-day moving average (MA) of 17.99, above the 50-day MA of 18.63, and above the 200-day MA of 14.77, indicating a neutral trend. The MACD of -0.15 indicates Negative momentum. The RSI at 50.15 is Neutral, neither overbought nor oversold. The STOCH value of 71.84 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 |
|---|---|---|---|---|---|---|---|
60 Neutral | $3.17B | -17.13 | -16.47% | ― | 3244.67% | 49.14% | |
56 Neutral | $3.74B | -26.11 | -25.74% | ― | 121.47% | 36.95% | |
55 Neutral | $3.97B | -11.54 | -42.27% | ― | 23.86% | 19.60% | |
54 Neutral | $4.25B | -21.17 | -39.01% | ― | ― | -18.88% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $894.08M | -4.81 | -43.31% | ― | -83.86% | -646.52% | |
48 Neutral | $5.24B | -15.78 | -80.43% | ― | ― | -110.63% |
* Healthcare Sector Average
RLAY
Relay Therapeutics
18.12
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145.53%
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Relay Therapeutics Corporate Events
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Relay Therapeutics Expands ATM Equity Offering Agreement
Positive
Aug 6, 2026
On August 6, 2026, Relay Therapeutics amended its existing common stock sales agreement with TD Securities (USA) LLC to expand its at-the-market equity offering capacity from $250 million to $462,978,049. As of that date, the company had already s...
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.