14 Best Biotech Penny Stocks to Buy Right Now

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3. Relay Therapeutics, Inc. (NASDAQ:RLAY)

Stock Price: $3.69

Number of Hedge Fund Holders: 35

Relay Therapeutics, Inc. (NASDAQ:RLAY) is one of the best biotech penny stocks to buy right now. In a report released on July 29, Peter Lawson from Barclays maintained a Buy rating on Relay Therapeutics, Inc. (NASDAQ:RLAY) with a price target of $17.00.

Relay Therapeutics, Inc. (NASDAQ:RLAY) reported in its fiscal Q1 2025 earnings that it implemented strategic cost reductions to extend operating runway into 2029. The reductions are also aimed at funding key objectives for the company.

These objectives include the “execution of RLY-2608 Phase 1 vascular malformations trial through clinical proof-of-concept data”, advancement of Fabry and NRAS program to Investigational New Drug application (IND) readiness, advancement of one research-stage program, and more.

Relay Therapeutics, Inc. (NASDAQ:RLAY) is a clinical-stage precision medicine company that uses advanced computational and experimental technologies to innovate drug discovery.

Its primary focus is on genetic disease indications and targeted oncology. The company’s Dynamo platform integrates a range of cutting-edge experimental and computational approaches to understand protein structure and motion in drug discovery.

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