About Relay Therapeutics, Inc. - Common Stock Company overview from Wikipedia

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RLAY Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

Price

$20.73

Market Cap

$3.61B

P/E (TTM)

-12.9

EPS (TTM)

$-1.61

Revenue (TTM)

$15M

Div Yield

—

ROE

-44.9%

Debt/Equity

—

52W Range

$3 – $21

RLAY Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

10-Year Performance Revenue, net income, margins and EPS trends

Revenue & Net Income $15M

2020-12-31 → 2025-12-31

EPS $-1.61

2020-12-31 → 2025-12-31

Free Cash Flow $-236M

2020-12-31 → 2025-12-31

Margins -1800.6%

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric

5Y trend

RLAY

Peer Median

P/E (TTM)

-12.9

13.2

P/S (TTM)

234.8

55.3

P/B

6.4

3.5

Price / FCF

-15.3

—

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Metric

5Y trend

RLAY

Peer Median

Operating Margin

-1971.6%

—

Net Profit Margin

-1800.6%

-151.2%

ROA

-37.0%

-42.2%

ROE

-44.9%

-52.8%

Financial Health Debt, liquidity, solvency — balance sheet strength

Metric

5Y trend

RLAY

Peer Median

Current Ratio

22.6

10.3

Quick Ratio

3.3

—

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Metric

5Y trend

RLAY

Peer Median

Revenue YoY

53.4%

—

Revenue CAGR 3Y

123.2%

—

Revenue CAGR 5Y

-28.6%

—

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Metric

5Y trend

RLAY

Peer Median

EPS (Diluted)

$-1.61

—

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

Metric

5Y trend

RLAY

Peer Median

RLAY Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

BUY 20 analysts

Strong Buy 7 35.0%
Buy 12 60.0%
Hold 1 5.0%
Sell 0 0.0%
Strong Sell 0 0.0%

12-Month Price Target

13 analysts · 2026-08-18

Median $26.00

Mean $27.00

Now $20.73

Low $20.00

High $32.00

Median target $26.00 +25.4%

Mean target $27.00 +30.2%

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Avg Surprise

0.03%

Period	EPS Actual	EPS Est	Surprise
June 30, 2026	$-0.41	$-0.40	-0.01%
March 31, 2026	$-0.41	$-0.38	-0.03%
Dec. 31, 2025	$-0.32	$-0.41	0.09%
Sept. 30, 2025	$-0.43	$-0.42	-0.01%
June 30, 2025	$-0.41	$-0.50	0.09%
March 31, 2025	$-0.46	$-0.50	0.04%

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Ticker	Market Cap	P/E	Rev YoY	Net Margin	ROE	Gross Margin
RLAY	$1.47B	-5.3	53.4%	-1800.6%	-44.9%	—
DYN	$3.23B	-5.6	—	—	-57.8%	—
PBLS	—	—	—	—	—	—
CELC	$4.81B	-26.3	—	—	-244.3%	—
TNGX	$1.20B	-10.2	48.3%	-162.8%	-42.2%	—
LEGN	—	—	—	—	—	—
DNLI	$2.58B	-5.6	204.7%	—	-50.2%	—
RCUS	$2.99B	-7.2	-4.3%	-142.9%	-59.8%	—

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Income Statement 13

Annual Income Statement data for RLAY
Metric	2025	2024	2023	2022	2021	2020
Revenue	$15M	$10M	$26M	$1M	$3M	$83M
R&D Expense	·	·	·	·	·	$100M
SG&A Expense	$57M	$77M	$75M	$66M	$57M	$39M
Operating Expenses	$318M	$382M	$399M	$301M	$368M	$138M
Operating Income	$-303M	$-372M	$-373M	$-299M	$-365M	$-56M
Other Non-op	$26M	$35M	$31M	$9M	$826.0K	$3M
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	$-276M	$-338M	$-342M	$-291M	$-364M	$-52M
EPS (Basic)	$-1.61	$-2.36	$-2.79	$-2.59	$-3.82	$-5.40
EPS (Diluted)	$-1.61	$-2.36	$-2.79	$-2.59	$-3.82	$-5.40
Shares (Basic)	171,586,558	142,867,844	122,576,527	112,233,649	95,136,719	42,619,582
Shares (Diluted)	·	·	·	112,233,649	95,136,719	42,619,582
EBITDA	$-303M	$-372M	$-373M	$-299M	$-365M	$-56M

Balance Sheet 23

Annual Balance Sheet data for RLAY
Metric	2025	2024	2023	2022	2021	2020
Cash & Equivalents	$84M	$124M	$144M	$152M	$280M	$448M
Receivables	·	·	·	$306.0K	$403.0K	$75M
Prepaid Expense	$18M	$17M	$17M	$12M	$11M	$9M
Other Current Assets	$6M	$11M	$3M	$3M	$2M	·
Current Assets	$578M	$809M	$770M	$1.02B	$976M	$770M
PP&E (Net)	$2M	$6M	$11M	$12M	$7M	$6M
PP&E (Gross)	$23M	$35M	$34M	$30M	$21M	$17M
Accum. Depreciation	$22M	$29M	$24M	$18M	$14M	$11M
Intangibles	·	·	$2M	$2M	$2M	·
Total Assets	$621M	$871M	$844M	$1.10B	$1.01B	$800M
Accounts Payable	$8M	$14M	$9M	$11M	$8M	$6M
Accrued Liabilities	$14M	$21M	$15M	$23M	$14M	$6M
Current Liabilities	$26M	$51M	$30M	$64M	$24M	$14M
Capital Leases	$29M	$43M	$49M	$53M	$21M	$23M
Other Non-current Liabilities	·	·	·	·	$15M	·
Total Liabilities	$54M	$94M	$92M	$150M	$111M	$37M
Common Stock	$168.0K	$168.0K	$127.0K	$121.0K	$109.0K	$90.0K
Paid-in Capital	$2.58B	$2.52B	$2.15B	$2.02B	$1.67B	$1.17B
Retained Earnings	$-2.01B	$-1.74B	$-1.40B	$-1.06B	$-768M	$-404M
AOCI	$733.0K	$-991.0K	$-196.0K	$-10M	$-1M	$64.0K
Stockholders' Equity	$567M	$778M	$752M	$950M	$898M	$763M
Liabilities + Equity	$621M	$871M	$844M	$1.10B	$1.01B	$800M
Shares Outstanding	173,868,949	167,755,715	127,462,409	121,112,234	108,210,318	89,906,835

Cash Flow 9

Annual Cash Flow data for RLAY
Metric	2025	2024	2023	2022	2021	2020
Stock-based Comp	$62M	$94M	$86M	$56M	$48M	$32M
Operating Cash Flow	$-235M	$-249M	$-300M	$-229M	$-74M	$-102M
CapEx	$410.0K	$2M	$4M	$9M	$3M	$2M
Investing Cash Flow	$193M	$-41M	$258M	$-189M	$-480M	$82M
Stock Issued	·	·	·	·	$5M	$1M
Net Stock Activity	·	·	·	·	$5M	$1M
Financing Cash Flow	$2M	$270M	$35M	$290M	$388M	$427M
Net Change in Cash	$-41M	$-20M	$-8M	$-128M	$-166M	$406M
Free Cash Flow	$-236M	$-251M	$-304M	$-239M	$-78M	$-104M

Profitability 5

Annual Profitability data for RLAY
Metric	2025	2024	2023	2022	2021	2020
Operating Margin	-1971.6%	-3722.1%	-1460.1%	-21670.9%	-1204.0%	-67.5%
Net Margin	-1800.6%	-3374.7%	-1338.7%	-21036.1%	-1201.3%	-63.4%
EBITDA Margin	-1971.6%	-3722.1%	-1460.1%	-21670.9%	-1204.0%	-67.5%
ROA	-37.0%	-39.4%	-35.2%	-27.6%	-40.2%	-8.8%
ROE	-44.9%	-41.8%	-44.7%	-29.8%	-49.5%	-7.1%

Liquidity & Solvency 2

Annual Liquidity & Solvency data for RLAY
Metric	Trend	2025	2024	2023	2022	2021	2020
Current Ratio		22.6	16.0	25.4	16.0	40.1	56.5
Quick Ratio		3.3	2.5	4.7	2.4	11.5	38.3

Efficiency 2

Annual Efficiency data for RLAY
Metric	Trend	2025	2024	2023	2022	2021	2020
Asset Turnover		0.0	0.0	0.0	0.0	0.0	0.1
Receivables Turnover		·	·	·	3.9	0.8	2.2

Per Share 5

Annual Per Share data for RLAY
Metric	2025	2024	2023	2022	2021	2020
Book Value / Share	$3.26	$4.64	$5.90	$7.85	$8.30	$8.49
Revenue / Share	·	·	·	$0.01	·	·
Cash Flow / Share	·	·	·	$-2.04	·	·
Cash / Share	$0.48	$0.74	$1.13	$1.25	$2.59	$4.98
EPS (TTM)	$-1.61	$-2.36	$-2.79	$-2.59	$-3.82	$-5.40

Growth Rates 3

Annual Growth Rates data for RLAY
Metric	2025	2024	2023	2022	2021	2020
Revenue YoY	53.4%	-60.8%	1749.8%	-54.4%	-96.3%	·
Revenue CAGR 3Y	123.2%	48.9%	-32.4%	·	·	·
Revenue CAGR 5Y	-28.6%	·	·	·	·	·

Valuation (TTM) 10

Annual Valuation (TTM) data for RLAY
Metric	2025	2024	2023	2022	2021	2020
Revenue TTM	$15M	$10M	$26M	$1M	$3M	$83M
Net Income TTM	$-276M	$-338M	$-342M	$-291M	$-364M	$-52M
Market Cap	$1.47B	$691M	$1.40B	$1.81B	$3.32B	$3.74B
P/E	-5.3	-1.7	-3.9	-5.8	-8.0	-7.7
P/S	95.8	69.1	54.9	1310.2	1097.1	45.2
P/B	2.6	0.9	1.9	1.9	3.7	4.9
P / Tangible Book	2.6	0.9	1.9	1.9	3.7	4.9
P / Cash Flow	-6.2	-2.8	-4.7	-7.9	-44.7	-36.5
P / FCF	-6.2	-2.8	-4.6	-7.6	-42.7	-35.8
Earnings Yield	-19.0%	-57.3%	-25.3%	-17.3%	-12.4%	-13.0%

Income Statement 11

Quarterly Income Statement data for RLAY
Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022
Revenue	$350.0K	$3M	$7M	$0	$677.0K	$8M	$0	$0	$0	$10M	$25M	$119.0K	$226.0K	$344.0K	$365.0K	$419.0K
SG&A Expense	$15M	$11M	$12M	$12M	$14M	$19M	$17M	$20M	$20M	$20M	$18M	$20M	$20M	$16M	$17M	$16M
Operating Expenses	$91M	$82M	$68M	$80M	$78M	$93M	$85M	$96M	$101M	$100M	$99M	$106M	$101M	$86M	$78M	$63M
Operating Income	$-91M	$-79M	$-61M	$-80M	$-77M	$-85M	$-85M	$-96M	$-101M	$-90M	$-74M	$-106M	$-101M	$-86M	$-78M	$-63M
Other Non-op	$7M	$5M	$6M	$6M	$6M	$8M	$9M	$8M	$9M	$9M	$8M	$8M	$7M	$2M	$1M	$675.0K
Net Income	$-84M	$-73M	$-55M	$-74M	$-70M	$-77M	$-76M	$-88M	$-92M	$-81M	$-66M	$-99M	$-94M	$-84M	$-77M	$-62M
EPS (Basic)	$-0.41	$-0.41	$-0.31	$-0.43	$-0.41	$-0.46	$-0.42	$-0.63	$-0.69	$-0.62	$-0.54	$-0.81	$-0.78	$-0.76	$-0.71	$-0.57
EPS (Diluted)	$-0.41	$-0.41	$-0.31	$-0.43	$-0.41	$-0.46	$-0.42	$-0.63	$-0.69	$-0.62	$-0.54	$-0.81	$-0.78	$-0.76	$-0.71	$-0.57
Shares (Basic)	202,849,466	179,849,137	-341,300,428	172,389,209	171,264,622	169,233,155	-261,026,051	140,229,056	132,821,826	130,843,013	122,231,255	121,680,844	121,320,865	110,905,940	108,644,329	108,293,251
Shares (Diluted)	·	·	·	·	·	·	·	·	·	·	·	·	·	110,905,940	·	·
EBITDA	$-91M	$-79M	·	$-80M	$-77M	$-85M	·	$-96M	$-101M	$-90M	$-74M	$-106M	$-101M	$-86M	$-78M	$-63M

Balance Sheet 22

Quarterly Balance Sheet data for RLAY
Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022
Cash & Equivalents	$121M	$205M	$84M	$92M	$114M	$94M	$124M	$152M	$134M	$153M	$151M	$146M	$161M	$355M	$108M	$119M
Receivables	·	·	·	·	·	·	·	·	·	·	$211.0K	$78.0K	$286.0K	$241.0K	$288.0K	$269.0K
Prepaid Expense	$9M	$12M	$18M	$24M	$16M	$22M	$17M	$19M	$10M	$13M	$17M	$9M	$11M	$17M	$13M	$13M
Other Current Assets	$8M	$5M	$6M	$4M	$8M	$7M	$11M	$7M	$6M	$7M	$4M	$3M	$4M	$12M	·	·
Current Assets	$928M	$658M	$578M	$624M	$680M	$740M	$809M	$865M	$704M	$770M	$832M	$884M	$958M	$1.09B	$856M	$916M
PP&E (Net)	$862.0K	$1M	$2M	$2M	$3M	$5M	$6M	$7M	$8M	$10M	$11M	$12M	$12M	$11M	$9M	$9M
PP&E (Gross)	·	·	$23M	·	·	·	$35M	·	·	·	·	·	·	·	·	·
Accum. Depreciation	·	·	$22M	·	·	·	$29M	·	·	·	·	·	·	·	·	·
Intangibles	·	·	·	·	·	·	·	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M	$2M
Total Assets	$967M	$700M	$621M	$670M	$729M	$799M	$871M	$930M	$773M	$841M	$907M	$962M	$1.04B	$1.17B	$889M	$950M
Accounts Payable	$11M	$4M	$8M	$3M	$5M	$8M	$14M	$7M	$11M	$8M	$13M	$15M	$12M	$9M	$4M	$8M
Accrued Liabilities	$34M	$21M	$14M	$25M	$23M	$21M	$21M	$33M	$28M	$22M	$31M	$27M	$28M	$29M	$22M	$15M
Current Liabilities	$51M	$30M	$26M	$33M	$33M	$37M	$51M	$47M	$45M	$37M	$51M	$72M	$70M	$71M	$44M	$42M
Capital Leases	$27M	$28M	$29M	$30M	$31M	$41M	$43M	$44M	$46M	$47M	$50M	$51M	$52M	$55M	$20M	$21M
Total Liabilities	$77M	$57M	$54M	$62M	$63M	$78M	$94M	$91M	$91M	$96M	$129M	$152M	$154M	$169M	$110M	$108M
Common Stock	$211.0K	$182.0K	$168.0K	$168.0K	$168.0K	$168.0K	$168.0K	$167.0K	$133.0K	$132.0K	$123.0K	$122.0K	$121.0K	$121.0K	$109.0K	$109.0K
Paid-in Capital	$3.06B	$2.73B	$2.58B	$2.57B	$2.55B	$2.54B	$2.52B	$2.50B	$2.26B	$2.23B	$2.10B	$2.07B	$2.04B	$2.00B	$1.70B	$1.68B
Retained Earnings	$-2.17B	$-2.09B	$-2.01B	$-1.96B	$-1.89B	$-1.82B	$-1.74B	$-1.66B	$-1.57B	$-1.48B	$-1.32B	$-1.25B	$-1.15B	$-991M	$-907M	$-830M
AOCI	$-2M	$-172.0K	$733.0K	$493.0K	$-163.0K	$38.0K	$-991.0K	$3M	$-1M	$-1M	$-3M	$-6M	$-6M	$-13M	$-12M	$-9M
Stockholders' Equity	$890M	$642M	$567M	$608M	$666M	$721M	$778M	$839M	$682M	$746M	$778M	$810M	$883M	$1000M	$780M	$842M
Liabilities + Equity	$967M	$700M	$621M	$670M	$729M	$799M	$871M	$930M	$773M	$841M	$907M	$962M	$1.04B	$1.17B	$889M	$950M
Shares Outstanding	218,531,200	189,209,453	173,868,949	172,631,268	171,692,132	170,483,872	167,755,715	166,886,661	133,324,954	132,300,851	123,161,066	121,944,876	121,476,658	120,811,215	108,810,478	108,433,350

Cash Flow 9

Quarterly Cash Flow data for RLAY
Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022
Stock-based Comp	$9M	$11M	$13M	$16M	$14M	$19M	$18M	$22M	$27M	$27M	$22M	$23M	$22M	$14M	$15M	$13M
Operating Cash Flow	$-54M	$-51M	$-45M	$-62M	$-55M	$-73M	$-58M	$-75M	$-66M	$-50M	$-75M	$-69M	$-67M	$-66M	$-57M	$-49M
CapEx	·	·	$1.0K	$-1.0K	$26.0K	$384.0K	$0	$227.0K	$11.0K	$2M	$590.0K	$2M	$2M	$2M	$2M	$3M
Investing Cash Flow	$-353M	$33M	$35M	$40M	$75M	$42M	$29M	$-126M	$46M	$11M	$71M	$51M	$75M	$27M	$43M	$-112M
Stock Issued	·	·	·	·	·	·	·	·	·	·	·	·	·	$1M	$859.0K	$883.0K
Net Stock Activity	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	$883.0K
Financing Cash Flow	$324M	$139M	$934.0K	$17.0K	·	·	$800.0K	$219M	$2M	$49M	$9M	$2M	$1M	$286M	$2M	$883.0K
Net Change in Cash	$-83M	$121M	$-8M	$-22M	$21M	$-31M	$-28M	$18M	$-19M	$9M	$5M	$-15M	$9M	$247M	$-12M	$-161M
Free Cash Flow	·	·	·	·	·	$-74M	·	·	·	$-52M	·	·	$-69M	·	·	$-52M

Profitability 5

Quarterly Profitability data for RLAY
Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022
Operating Margin	-25949.7%	-2619.7%	·	·	-11351.1%	-1105.2%	·	·	·	-903.0%	-292.0%	-89117.7%	-44768.6%	-24968.6%	-21318.1%	-14969.2%
Net Margin	-23916.3%	-2443.0%	·	·	-10395.1%	-1003.6%	·	·	·	-813.3%	-260.8%	-82777.3%	-41698.7%	-24468.6%	-21037.8%	-14808.1%
EBITDA Margin	-25949.7%	-2619.7%	·	·	-11351.1%	-1105.2%	·	·	·	-903.0%	-292.0%	-89117.7%	-44768.6%	-24968.6%	-21318.1%	-14969.2%
ROA	-9.9%	-9.8%	·	-9.3%	-9.4%	-9.4%	·	-9.6%	-10.6%	-8.7%	-6.3%	-10.6%	-9.5%	-9.2%	-9.6%	-7.2%
ROE	-10.8%	-10.8%	·	-10.2%	-10.4%	-10.5%	·	-10.9%	-12.4%	-10.0%	-7.4%	-12.4%	-10.9%	-10.7%	-11.0%	-7.9%

Liquidity & Solvency 2

Quarterly Liquidity & Solvency data for RLAY
Metric	Trend	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022
Current Ratio		18.3	22.1	·	19.1	20.9	20.0	·	18.4	15.6	20.7	16.4	12.4	13.6	15.2	19.5	22.0
Quick Ratio		2.4	6.9	·	2.8	3.5	2.5	·	3.2	3.0	4.1	3.0	2.0	2.3	5.0	2.5	2.9

Efficiency 2

Quarterly Efficiency data for RLAY
Metric	Trend	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022
Asset Turnover		0.0	0.0	·	0.0	0.0	0.0	·	·	·	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Receivables Turnover		·	·	·	·	·	·	·	·	·	·	111.5	0.7	0.8	0.7	1.3	3.1

Per Share 4

Quarterly Per Share data for RLAY
Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022
Book Value / Share	$4.07	$3.39	·	$3.52	$3.88	$4.23	·	$5.03	$5.11	$5.64	$6.32	$6.64	$7.27	$8.28	$7.17	$7.76
Revenue / Share	·	·	·	·	·	·	·	·	·	·	·	·	·	$0.00	·	·
Cash / Share	$0.55	$1.08	·	$0.53	$0.66	$0.55	·	$0.91	$1.01	$1.16	$1.23	$1.20	$1.33	$2.94	$0.99	$1.10
EPS (TTM)	$-1.66	$-1.71	·	$-1.93	$-2.19	$-2.40	·	$-2.48	$-2.66	$-2.75	$-2.89	$-3.06	$-2.82	$-2.70	·	·

Valuation (TTM) 10

Quarterly Valuation (TTM) data for RLAY
Metric	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022	Q2 2022	Q1 2022
Revenue TTM	$4M	$11M	·	$8M	$8M	$18M	·	$35M	$35M	$36M	$26M	$1M	$1M	$2M	$2M	$3M
Net Income TTM	$-302M	$-295M	·	$-310M	$-328M	$-339M	·	$-327M	$-338M	$-340M	$-343M	$-354M	$-317M	$-284M	$-393M	$-358M
Market Cap	$4.09B	$1.88B	·	$901M	$594M	$447M	·	$1.18B	$869M	$1.10B	$1.04B	$1.53B	$2.00B	$2.70B	$1.82B	$3.25B
P/E	-11.3	-5.8	·	-2.7	-1.6	-1.1	·	-2.9	-2.5	-3.0	-2.9	-4.1	-5.8	-8.3	·	·
P/S	1015.3	165.8	·	107.8	71.1	25.3	·	33.6	24.6	30.9	40.0	1453.2	1477.6	1506.4	794.5	1126.5
P/B	4.6	2.9	·	1.5	0.9	0.6	·	1.4	1.3	1.5	1.3	1.9	2.3	2.7	2.3	3.9
P / Tangible Book	4.6	2.9	·	1.5	0.9	0.6	·	1.4	1.3	1.5	1.3	1.9	2.3	2.7	2.3	3.9
P / Cash Flow	·	-36.8	·	·	·	-6.1	·	·	·	-21.8	·	·	-29.8	·	·	-66.0
P / FCF	·	·	·	·	·	-6.1	·	·	·	-21.1	·	·	-29.0	·	·	-62.5
Earnings Yield	-8.9%	-17.2%	·	-37.0%	-63.3%	-91.6%	·	-35.0%	-40.8%	-33.1%	-34.4%	-24.4%	-17.1%	-12.1%	·	·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Income Statement

	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Revenue	$15M	$10M	$26M	$1M	$3M
Operating Margin %	-1971.6%	-3722.1%	-1460.1%	-21670.9%	-1204.0%
Net Income	$-276M	$-338M	$-342M	$-291M	$-364M
Diluted EPS	$-1.61	$-2.36	$-2.79	$-2.59	$-3.82

Balance Sheet

	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Current Ratio	22.6	16.0	25.4	16.0	40.1
Quick Ratio	3.3	2.5	4.7	2.4	11.5

Cash Flow

	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Free Cash Flow	$-236M	$-251M	$-304M	$-239M	$-78M

Latest News Recent headlines mentioning this company

Is Relay Therapeutics a Buy After Promising Trial Results? Nasdaq · 2 months, 3 weeks ago

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Institutional owners (13F) 277 filers · $3.7B total · As of June 30, 2026

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Institutional activity — Q2 2026 vs prior quarter

New positions	Exited positions	Increased	Decreased	Net shares change
59 (+13 vs prior Q)	28 (+3 vs prior Q)	99 (+16 vs prior Q)	66 (+8 vs prior Q)	+67.7M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution	Value	Shares	% of tracked 13F	Type
SB INVESTMENT ADVISERS (UK) LTD	$522,101,858	27,904,963	14.22%	Shares
FMR LLC	$305,609,046	16,333,995	8.32%	Shares
Casdin Capital, LLC	$300,019,340	16,035,240	8.17%	Shares
PERCEPTIVE ADVISORS LLC	$263,926,759	14,106,187	7.19%	Shares
Commodore Capital LP	$224,520,000	12,000,000	6.11%	Shares
STATE STREET CORP	$189,474,192	10,125,381	5.16%	Shares
VANGUARD CAPITAL MANAGEMENT LLC	$167,724,354	8,964,423	4.57%	Shares
Nextech Invest Ltd.	$126,788,427	6,776,506	3.45%	Shares
TCG Crossover Management, LLC	$79,954,491	4,273,356	2.18%	Shares
GEODE CAPITAL MANAGEMENT, LLC	$76,931,163	4,110,996	2.09%	Shares
Siren, L.L.C.	$68,291,500	3,650,000	1.86%	Shares
WESTFIELD CAPITAL MANAGEMENT CO LP	$62,556,810	3,343,496	1.70%	Shares
Kynam Capital Management, LP	$61,743,000	3,300,000	1.68%	Shares
Spruce Street Capital LP	$55,832,979	2,984,125	1.52%	Shares
DIMENSIONAL FUND ADVISORS LP	$54,843,631	2,931,247	1.49%	Shares
VANGUARD PORTFOLIO MANAGEMENT LLC	$54,124,007	2,892,785	1.47%	Shares
BAKER BROS. ADVISORS LP	$52,889,110	2,826,783	1.44%	Shares
GOLDMAN SACHS GROUP INC	$51,957,988	2,777,017	1.41%	Shares
MPM BIOIMPACT LLC	$45,197,223	2,415,672	1.23%	Shares
BANK OF AMERICA CORP /DE/	$42,645,310	2,279,279	1.16%	Shares
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	$41,890,362	2,238,929	1.14%	Shares
ALLIANCEBERNSTEIN L.P.	$40,751,220	4,095,600	1.11%	Shares
Pictet Asset Management Holding SA	$39,220,161	2,077,297	1.07%	Shares
Polar Capital Holdings Plc	$33,473,238	1,789,056	0.91%	Shares
ADAGE CAPITAL PARTNERS GP, L.L.C.	$32,555,400	1,740,000	0.89%	Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	$28,080,286	1,500,817	0.76%	Shares
Elmind Capital, LP	$27,415,370	1,465,279	0.75%	Shares
Alphabet Inc.	$26,381,643	1,410,029	0.72%	Shares
PANAGORA ASSET MANAGEMENT INC	$24,158,015	1,291,182	0.66%	Shares
Foresite Capital Management IV, LLC	$23,387,500	1,250,000	0.64%	Shares
Caption Management, LLC	$23,323,886	1,246,600	0.64%	Put option
VANGUARD FIDUCIARY TRUST CO	$22,901,152	1,224,006	0.62%	Shares
FIRST TRUST ADVISORS LP	$20,115,607	1,075,126	0.55%	Shares
Affinity Asset Advisors, LLC	$19,645,500	1,050,000	0.53%	Shares
Frazier Life Sciences Management, L.P.	$19,003,616	1,015,693	0.52%	Shares
Squadron Capital Management LLC	$18,148,700	970,000	0.49%	Shares
Connor, Clark & Lunn Investment Management Ltd.	$17,984,333	961,215	0.49%	Shares
Woodline Partners LP	$17,394,537	929,692	0.47%	Shares
Nextech Invest Ltd.	$15,847,205	3,846,409	0.43%	Shares
JUPITER ASSET MANAGEMENT LTD	$13,463,267	719,576	0.37%	Shares
TWO SIGMA INVESTMENTS, LP	$13,114,232	700,921	0.36%	Shares
EcoR1 Capital, LLC	$13,058,607	697,948	0.36%	Shares
CONGRESS ASSET MANAGEMENT CO	$11,715,098	626,141	0.32%	Shares
MILLENNIUM MANAGEMENT LLC	$11,070,239	591,675	0.30%	Shares
TWO SIGMA ADVISERS, LP	$10,911,708	1,289,800	0.30%	Shares
Tetragon Partners GP Ltd	$10,670,519	570,311	0.29%	Shares
Rhenman & Partners Asset Management AB	$10,589,860	566,000	0.29%	Shares
CITADEL ADVISORS LLC	$10,503,794	561,400	0.29%	Put option
ArrowMark Colorado Holdings LLC	$10,124,430	541,124	0.28%	Shares
HighVista Strategies LLC	$9,471,675	506,235	0.26%	Shares
AMERIPRISE FINANCIAL INC	$8,960,706	478,926	0.24%	Shares
JANE STREET GROUP, LLC	$8,920,928	476,800	0.24%	Put option
Boxer Capital Management, LLC	$8,419,500	450,000	0.23%	Shares
Eversept Partners, LP	$8,126,015	434,314	0.22%	Shares
MOORE CAPITAL MANAGEMENT, LP	$7,746,034	414,005	0.21%	Shares
CITADEL ADVISORS LLC	$7,739,092	413,634	0.21%	Shares
VANGUARD GROUP INC	$7,283,510	860,935	0.20%	Shares
Aberdeen Group plc	$6,963,282	372,169	0.19%	Shares
ADAR1 Capital Management, LLC	$6,704,410	358,333	0.18%	Shares
Logos Global Management LP	$6,548,500	350,000	0.18%	Shares
TD Asset Management Inc	$6,510,070	347,946	0.18%	Shares
MANUFACTURERS LIFE INSURANCE COMPANY, THE	$4,930,197	263,506	0.13%	Shares
CITADEL ADVISORS LLC	$4,714,920	252,000	0.13%	Call option
RHUMBLINE ADVISERS	$4,510,518	241,076	0.12%	Shares
CITIGROUP INC	$4,469,913	238,905	0.12%	Shares
Swiss National Bank	$4,426,786	236,600	0.12%	Shares
SPHERA FUNDS MANAGEMENT LTD.	$4,375,072	233,836	0.12%	Shares
DIADEMA PARTNERS LP	$4,315,967	230,677	0.12%	Shares
ALPS ADVISORS INC	$4,123,422	220,386	0.11%	Shares
BlackRock, Inc.	$3,774,836	201,755	0.10%	Shares
JANE STREET GROUP, LLC	$3,745,742	200,200	0.10%	Call option
RENAISSANCE TECHNOLOGIES LLC	$3,599,785	192,399	0.10%	Shares
ExodusPoint Capital Management, LP	$3,445,970	184,178	0.09%	Shares
Seven Fleet Capital Management LP	$3,334,534	178,222	0.09%	Shares
Rafferty Asset Management, LLC	$3,270,227	174,785	0.09%	Shares
Caption Management, LLC	$3,087,150	165,000	0.08%	Call option
Verition Fund Management LLC	$2,956,498	158,017	0.08%	Shares
Bank of New York Mellon Corp	$2,876,344	153,733	0.08%	Shares
Trexquant Investment LP	$2,844,238	152,017	0.08%	Shares
WELLS FARGO & COMPANY/MN	$2,710,686	144,879	0.07%	Shares
WELLINGTON MANAGEMENT GROUP LLP	$2,446,969	130,784	0.07%	Shares
IEQ CAPITAL, LLC	$2,372,971	126,829	0.06%	Shares
STATE OF WISCONSIN INVESTMENT BOARD	$2,356,506	125,949	0.06%	Shares
Aquatic Capital Management LLC	$2,248,886	120,197	0.06%	Shares
JPMORGAN CHASE & CO	$2,172,782	110,070	0.06%	Shares
Balyasny Asset Management L.P.	$2,114,024	112,989	0.06%	Shares
Sanctuary Advisors, LLC	$1,995,085	106,632	0.05%	Shares
Caption Management, LLC	$1,927,242	103,006	0.05%	Shares
Cinctive Capital Management LP	$1,919,066	102,569	0.05%	Shares
Susquehanna Portfolio Strategies, LLC	$1,895,155	101,291	0.05%	Shares
LAZARD ASSET MANAGEMENT LLC	$1,858,801	99,348	0.05%	Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP	$1,806,432	96,549	0.05%	Shares
ICONIQ Capital, LLC	$1,771,781	94,697	0.05%	Shares
MetLife Investment Management, LLC	$1,761,023	94,122	0.05%	Shares
Squarepoint Ops LLC	$1,743,379	93,179	0.05%	Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM	$1,732,285	174,099	0.05%	Shares
Vanguard Global Advisers, LLC	$1,666,967	89,095	0.05%	Shares
PROFUND ADVISORS LLC	$1,653,421	88,371	0.05%	Shares
Russell Investments Group, Ltd.	$1,650,562	88,218	0.04%	Shares
RAYMOND JAMES FINANCIAL INC	$1,614,542	86,293	0.04%	Shares

Company insiders 16 insiders · 6 officers · 11 directors

Insider	Role	Last activity	Shares owned	Sells 12m	Net 12m
Sanjiv Patel	President and CEO	Aug. 17, 2026 S	567,699	4	$-2,695,707
Thomas Catinazzo	Chief Financial Officer	Aug. 14, 2026 S	140,568	15	$-4,840,391
Donald A Bergstrom	President, R&D	July 28, 2026 S	407,660	7	$-2,200,758
Peter Rahmer	Cheif Corporate Development Officer	July 28, 2026 S	228,165	7	$-1,379,979
Brian Adams	Chief Legal Officer	July 29, 2025 S	371,472	0	$0
Andy Porter	Chief Administrative Officer	Oct. 28, 2022 S	45,164	0	$0
Claire Mazumdar	Director	June 9, 2026 A	—	0	$0
Mark Murcko	Director	June 9, 2026 A	996,952	0	$0
Habib J Dable	Director	June 9, 2026 A	—	0	$0
Lonnel Coats	Director	June 9, 2026 A	—	0	$0
Alexis Borisy	Director	June 9, 2026 A	234,175	0	$0
Douglas S Ingram	Director	June 9, 2026 A	25,000	0	$0
Linda A Hill	Director	June 9, 2026 A	—	0	$0
Sekar Kathiresan	Director	June 6, 2025 A	—	0	$0
Jami Rubin	Director	June 6, 2025 A	67,242	0	$0
Laura Shawver	Director	June 3, 2024 A	40,000	0	$0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 56 ETFs

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund	Weight	Units	As of	Source
PTH · Invesco Exchange-Traded Fund Trust	2.27%	283,530 SH	Aug. 8, 2026	Daily
SBIO · ALPS ETF Trust	1.60%	184,224 NS	May 31, 2026	N-PORT
CANC · Tema ETF Trust	1.28%	161,076 NS	May 31, 2026	N-PORT
BBC · ETFis Series Trust I	1.19%	34,371 NS	April 30, 2026	N-PORT
FYC · First Trust Exchange-Traded AlphaDE…	0.73%	585,878 NS	April 30, 2026	N-PORT
DWAS · Invesco Exchange-Traded Fund Trust …	0.71%	162,046 SH	Aug. 8, 2026	Daily
MEDI · Harbor ETF Trust	0.48%	10,189 NS	April 30, 2026	N-PORT
FMED · Fidelity Covington Trust	0.45%	12,996 NS	May 31, 2026	N-PORT
LABU · Direxion Shares ETF Trust	0.40%	162,116 NS	April 30, 2026	N-PORT
FYX · First Trust Exchange-Traded AlphaDE…	0.37%	348,867 NS	April 30, 2026	N-PORT
ESSC · Strategy Shares	0.32%	6,435 NS	April 30, 2026	N-PORT
IBBQ · Invesco Exchange-Traded Fund Trust …	0.29%	11,672 SH	Aug. 8, 2026	Daily
IBB · iShares Trust	0.25%	1,205,185 SH	Aug. 8, 2026	Daily
VFMO · VANGUARD WELLINGTON FUND	0.22%	230,839 SH	Aug. 8, 2026	Daily
AVSC · AMERICAN CENTURY ETF TRUST	0.20%	389,066 NS	May 31, 2026	N-PORT
MSSM · MORGAN STANLEY PATHWAY FUNDS	0.19%	99,866 NS	May 31, 2026	N-PORT
PRFZ · Invesco Exchange-Traded Fund Trust	0.18%	268,094 SH	Aug. 8, 2026	Daily
IWO · iShares Trust	0.16%	1,159,090 SH	Aug. 8, 2026	Daily
FAD · First Trust Exchange-Traded AlphaDE…	0.15%	54,650 NS	April 30, 2026	N-PORT
VTWG · VANGUARD SCOTTSDALE FUNDS	0.14%	136,466 SH	Aug. 8, 2026	Daily
BIB · ProShares Trust	0.13%	6,606 NS	May 31, 2026	N-PORT
IWM · iShares Trust	0.10%	4,130,083 SH	Aug. 8, 2026	Daily
OMFS · Invesco Exchange-Traded Self-Indexe…	0.10%	14,253 SH	Aug. 8, 2026	Daily
VTWO · VANGUARD SCOTTSDALE FUNDS	0.09%	930,338 SH	Aug. 8, 2026	Daily
ESML · iShares Trust	0.08%	111,194 SH	Aug. 8, 2026	Daily
RSSL · Global X Funds	0.06%	60,913 NS	April 30, 2026	N-PORT
ISCG · iShares Trust	0.05%	25,947 SH	Aug. 8, 2026	Daily
DFAS · Dimensional ETF Trust	0.05%	552,139 NS	April 30, 2026	N-PORT
GSSC · Goldman Sachs ETF Trust	0.05%	35,750 NS	May 31, 2026	N-PORT
ITWO · ProShares Trust	0.05%	6,627 NS	May 31, 2026	N-PORT
ISCB · iShares Trust	0.05%	6,958 SH	Aug. 8, 2026	Daily
SCHA · SCHWAB STRATEGIC TRUST	0.05%	744,250 NS	May 31, 2026	N-PORT
IWN · iShares Trust	0.04%	327,225 SH	Aug. 8, 2026	Daily
ISCV · iShares Trust	0.04%	15,486 SH	Aug. 8, 2026	Daily
VXF · VANGUARD INDEX FUNDS	0.04%	1,943,284 SH	Aug. 8, 2026	Daily
VTWV · VANGUARD SCOTTSDALE FUNDS	0.04%	30,077 SH	Aug. 8, 2026	Daily
VHT · VANGUARD WORLD FUND	0.03%	355,078 SH	Aug. 8, 2026	Daily
UWM · ProShares Trust	0.03%	5,185 NS	May 31, 2026	N-PORT
FHLC · FIDELITY COVINGTON TRUST	0.03%	56,820 NS	April 30, 2026	N-PORT
WSML · iShares Trust	0.02%	7,209 SH	Aug. 8, 2026	Daily
URTY · ProShares Trust	0.02%	5,244 NS	May 31, 2026	N-PORT
DXUV · Dimensional ETF Trust	0.01%	3,972 NS	April 30, 2026	N-PORT
VTI · VANGUARD INDEX FUNDS	0.01%	6,801,693 SH	Aug. 8, 2026	Daily
DCOR · Dimensional ETF Trust	0.01%	20,972 NS	April 30, 2026	N-PORT
HDG · ProShares Trust	0.01%	132 NS	May 31, 2026	N-PORT
ONEQ · Fidelity Commonwealth Trust	0.01%	65,868 NS	May 31, 2026	N-PORT
DFAC · Dimensional ETF Trust	0.01%	291,502 NS	April 30, 2026	N-PORT
ITOT · iShares Trust	0.00%	234,590 SH	Aug. 8, 2026	Daily
DFAU · Dimensional ETF Trust	0.00%	37,538 NS	April 30, 2026	N-PORT
IWV · iShares Trust	0.00%	42,215 SH	Aug. 8, 2026	Daily
AVUS · AMERICAN CENTURY ETF TRUST	0.00%	33,259 NS	May 31, 2026	N-PORT
SCHB · SCHWAB STRATEGIC TRUST	0.00%	84,922 NS	May 31, 2026	N-PORT
DFUS · Dimensional ETF Trust	0.00%	40,728 NS	April 30, 2026	N-PORT
AVSU · AMERICAN CENTURY ETF TRUST	0.00%	474 NS	May 31, 2026	N-PORT
TILT · FlexShares Trust	0.00%	159 NS	April 30, 2026	N-PORT
VTHR · VANGUARD SCOTTSDALE FUNDS	0.00%	13,421 SH	Aug. 8, 2026	Daily

About Relay Therapeutics, Inc. - Common Stock Company overview from Wikipedia

RLAY Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

RLAY Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view

Moving averages & overlays

Volume

Oscillators

Momentum & trend

10-Year Performance Revenue, net income, margins and EPS trends

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Profitability Gross, operating and net margins; ROE, ROA, ROIC

Financial Health Debt, liquidity, solvency — balance sheet strength

Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR

Per Share Metrics EPS, book value per share, cash flow per share, dividend per share

Capital Efficiency Asset turnover, inventory turnover, receivables turnover

RLAY Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

12-Month Price Target

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

Peer comparison (GICS sub-industry) Key metrics vs sector peers

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

Latest News Recent headlines mentioning this company

My Metrics Your personal watchlist — selected rows from Full Fundamentals

Institutional owners (13F) 277 filers · $3.7B total · As of June 30, 2026

Company insiders 16 insiders · 6 officers · 11 directors

ETF ownership Held by 56 ETFs