Wells Fargo & Company Boosts Relay Therapeutics (NASDAQ:RLAY) Price Target to $17.00

Relay Therapeutics (NASDAQ:RLAY) had its price objective lifted by equities researchers at Wells Fargo & Company from $15.00 to $17.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 71.20% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Oppenheimer reaffirmed an “outperform” rating on shares of Relay Therapeutics in a research note on Monday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. Finally, Guggenheim lifted their target price on Relay Therapeutics from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.20.

Relay Therapeutics Stock Down 2.0%

Shares of RLAY stock opened at $9.93 on Tuesday. The firm has a 50 day moving average price of $8.76 and a two-hundred day moving average price of $7.28. The company has a market capitalization of $1.77 billion, a PE ratio of -6.27 and a beta of 1.55. Relay Therapeutics has a 12-month low of $1.77 and a 12-month high of $11.49.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.06. The company had revenue of $7.00 million for the quarter, compared to the consensus estimate of $4.34 million. As a group, research analysts expect that Relay Therapeutics will post -2.55 EPS for the current year.

Insider Buying and Selling at Relay Therapeutics

In related news, insider Peter Rahmer sold 11,684 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total value of $89,032.08. Following the completion of the transaction, the insider directly owned 277,964 shares in the company, valued at approximately $2,118,085.68. The trade was a 4.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 13,820 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $105,308.40. Following the sale, the chief financial officer owned 250,996 shares in the company, valued at approximately $1,912,589.52. This represents a 5.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 93,302 shares of company stock valued at $724,355 in the last quarter. Corporate insiders own 4.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Torren Management LLC bought a new stake in Relay Therapeutics during the 4th quarter valued at $30,000. Smartleaf Asset Management LLC lifted its holdings in Relay Therapeutics by 288.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after buying an additional 3,287 shares during the period. Quadrant Capital Group LLC boosted its position in Relay Therapeutics by 245.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 11,791 shares of the company’s stock valued at $41,000 after acquiring an additional 8,374 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Relay Therapeutics during the fourth quarter valued at $46,000. Finally, Quadrature Capital Ltd bought a new stake in Relay Therapeutics in the 2nd quarter worth about $47,000. 96.98% of the stock is currently owned by institutional investors.

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.