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

Relay Therapeutics (NASDAQ:RLAY) had its price objective boosted by Wells Fargo & Company from $13.00 to $15.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the stock.

RLAY has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. Oppenheimer raised Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price target for the company in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Relay Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $15.40.

Relay Therapeutics Price Performance

Shares of NASDAQ:RLAY traded up $1.10 on Friday, hitting $10.26. The company’s stock had a trading volume of 8,212,883 shares, compared to its average volume of 1,975,426. The company has a market capitalization of $1.78 billion, a PE ratio of -6.33 and a beta of 1.59. The company has a 50-day simple moving average of $8.37 and a 200 day simple moving average of $6.72. Relay Therapeutics has a 1 year low of $1.77 and a 1 year high of $11.43.

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

Insider Buying and Selling

In other Relay Therapeutics news, insider Donald A. Bergstrom sold 18,895 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $143,979.90. Following the completion of the sale, the insider owned 422,733 shares in the company, valued at approximately $3,221,225.46. The trade was a 4.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Thomas Catinazzo sold 13,820 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total transaction of $105,308.40. Following the completion of the transaction, the chief financial officer owned 250,996 shares in the company, valued at $1,912,589.52. This represents a 5.22% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 93,302 shares of company stock worth $724,355 in the last ninety days. Corporate insiders own 4.87% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Torren Management LLC purchased a new position in shares of Relay Therapeutics in the fourth quarter valued at about $30,000. Quinn Opportunity Partners LLC purchased a new stake in shares of Relay Therapeutics during the second quarter worth about $35,000. Smartleaf Asset Management LLC grew its stake in shares of 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 purchasing an additional 3,287 shares during the last quarter. Focus Partners Advisor Solutions LLC bought a new stake in shares of Relay Therapeutics in the second quarter worth about $39,000. Finally, Quadrant Capital Group LLC increased its holdings 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 purchasing an additional 8,374 shares during the period. Hedge funds and other institutional investors 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.