Wells Fargo & Company Issues Positive Forecast for Relay Therapeutics (NASDAQ:RLAY) Stock Price

Relay Therapeutics (NASDAQ:RLAY) had its price target hoisted by Wells Fargo & Company from $15.00 to $17.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts also recently weighed in on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. Oppenheimer restated an “outperform” rating on shares of Relay Therapeutics in a report on Monday. Finally, Guggenheim boosted their price objective on shares of Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Relay Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $17.17.

Relay Therapeutics Stock Up 1.3%

Shares of Relay Therapeutics stock opened at $10.26 on Tuesday. Relay Therapeutics has a 12 month low of $1.77 and a 12 month high of $11.49. The stock has a market cap of $1.83 billion, a PE ratio of -6.33 and a beta of 1.55. The business has a fifty day simple moving average of $8.80 and a 200-day simple moving average of $7.33.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.06. The business had revenue of $7.00 million for the quarter, compared to analyst estimates of $4.34 million. Analysts expect that Relay Therapeutics will post -2.55 EPS for the current fiscal year.

Insider Transactions at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 43,168 shares of the company’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $7.82, for a total value of $337,573.76. Following the transaction, the chief executive officer directly owned 661,041 shares of the company’s stock, valued at $5,169,340.62. This represents a 6.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Peter Rahmer sold 11,684 shares of the firm’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $89,032.08. Following the sale, the insider directly owned 277,964 shares of the company’s stock, valued at $2,118,085.68. This trade represents a 4.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 93,302 shares of company stock valued at $724,355 in the last three months. 4.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds have recently added to or reduced their stakes in RLAY. Mirae Asset Global Investments Co. Ltd. raised its position in Relay Therapeutics by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock valued at $71,000 after acquiring an additional 1,757 shares in the last quarter. Abel Hall LLC increased its stake in shares of Relay Therapeutics by 16.2% during the 4th quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock worth $110,000 after purchasing an additional 1,809 shares during the last quarter. Cresset Asset Management LLC raised its holdings in shares of Relay Therapeutics by 5.0% during the 3rd quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock valued at $203,000 after purchasing an additional 1,848 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Relay Therapeutics by 8.1% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 27,871 shares of the company’s stock valued at $145,000 after purchasing an additional 2,079 shares during the last quarter. Finally, Prelude Capital Management LLC lifted its stake in shares of Relay Therapeutics by 18.7% in the 3rd quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock valued at $103,000 after purchasing an additional 3,100 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.