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

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

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

Relay Therapeutics Price Performance

RLAY stock opened at $9.93 on Tuesday. The company has a market capitalization of $1.77 billion, a P/E ratio of -6.27 and a beta of 1.55. The business has a 50-day moving average price of $8.76 and a 200 day moving average price of $7.28. Relay Therapeutics has a 1-year low of $1.77 and a 1-year high of $11.49.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.32) earnings per share 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 analysts’ expectations of $4.34 million. On average, analysts anticipate that Relay Therapeutics will post -2.55 earnings per share for the current fiscal year.

Insider Activity at Relay Therapeutics

In other Relay Therapeutics news, insider Peter Rahmer sold 11,684 shares of the firm’s stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total transaction of $89,032.08. Following the sale, the insider owned 277,964 shares of the company’s stock, valued at approximately $2,118,085.68. This trade represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjiv Patel sold 43,168 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $7.82, for a total transaction of $337,573.76. Following the completion of the transaction, the chief executive officer owned 661,041 shares of the company’s stock, valued at approximately $5,169,340.62. The trade was a 6.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 93,302 shares of company stock valued at $724,355. Company insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors have recently made changes to their positions in RLAY. Caitong International Asset Management Co. Ltd acquired a new stake in Relay Therapeutics during the 4th quarter valued at $115,000. Seven Fleet Capital Management LP acquired a new position in Relay Therapeutics during the fourth quarter valued at approximately $618,000. Invesco Ltd. grew its stake in Relay Therapeutics by 139.6% during the fourth quarter. Invesco Ltd. now owns 865,481 shares of the company’s stock worth $7,322,000 after buying an additional 504,291 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of Relay Therapeutics in the fourth quarter worth $106,000. Finally, XTX Topco Ltd acquired a new position in shares of Relay Therapeutics during the 4th quarter valued at $1,332,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

About Relay Therapeutics

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.