Relay Therapeutics Inc. (NASDAQ:RLAY) shares are up on Monday as the company announced promising data from its ongoing Phase 3 ReDiscover-2 trial involving zovegalisib.

Relay Therapeutics’ Phase 3 Trial Shows Consistent Outcomes Across Mutation Types

The data revealed on Monday that the 400mg BID fed regimen of zovegalisib demonstrated a median progression-free survival (PFS) of 11.1 months in heavily pre-treated patients with PI3Kα-mutated, HR+/HER2- metastatic breast cancer.

Median PFS was 11.2 months in patients with kinase mutations (n=33) and 11.0 months in patients with non-kinase mutations (n=24).

Additionally, the safety profile of this regimen was consistent with previous findings from the 600mg BID fasted dose, reinforcing the drug’s potential as a treatment option.

RLAY Technical Analysis

Relay Therapeutics has shown impressive performance over the past 12 months, with shares increasing by 195.16%.

Currently, the stock is trading 8.6% above its 20-day simple moving average (SMA) and 30.3% above its 100-day SMA, demonstrating strong upward momentum.

The RSI is at 60.72, which is considered neutral territory, indicating that the stock is neither overbought nor oversold.

Meanwhile, MACD is at 0.5310, above its signal line at 0.4757, suggesting bullish momentum.

The combination of neutral RSI and bullish MACD suggests mixed momentum, indicating that while the stock is positioned well, traders should remain cautious of potential volatility.

  • Key Resistance: $11.50
  • Key Support: $9.00

Analyst Consensus & Recent Actions: The stock carries a Buy Rating with an average price target of $17.20. Recent analyst moves include:

  • Guggenheim: Buy (Raises Target to $22.00) (Mar. 13)
  • Wells Fargo: Overweight (Raises Target to $15.00) (Feb. 27)
  • Oppenheimer: Upgraded to Outperform (Target $14.00) (Jan. 26)

Relay Therapeutics Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Relay Therapeutics, highlighting its strengths and weaknesses compared to the broader market:

  • Momentum: Bullish (Score: 98.01) — Stock is outperforming the broader market.

The Verdict: Relay Therapeutics’ Benzinga Edge signal reveals a strong momentum score, indicating that the stock is currently outperforming the market.

Investors should consider this positive momentum while also monitoring upcoming earnings and trial results for further insights.

RLAY Price Action: Relay Therapeutics shares were down 1.45% at $10.21 at the time of publication on Monday, according to Benzinga Pro data.

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