Relay Therapeutics (NASDAQ:RLAY) Price Target Raised to $17.00

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

RLAY has been the topic of a number of other reports. Guggenheim increased their price objective on Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Oppenheimer reaffirmed an “outperform” rating on shares of Relay Therapeutics in a research note on Monday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.17.

Relay Therapeutics Trading Up 0.7%

Shares of RLAY stock opened at $10.00 on Tuesday. Relay Therapeutics has a 1 year low of $1.77 and a 1 year high of $11.49. The firm’s 50 day moving average is $8.88 and its 200-day moving average is $7.37. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -6.17 and a beta of 1.55.

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

Insider Buying and Selling at Relay Therapeutics

In other news, insider Donald A. Bergstrom sold 18,895 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 $143,979.90. Following the transaction, the insider owned 422,733 shares of the company’s stock, valued at $3,221,225.46. This represents a 4.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas Catinazzo sold 13,820 shares of the firm’s 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 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 93,302 shares of company stock worth $724,355. 4.87% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its stake in Relay Therapeutics by 130.4% in the second quarter. Franklin Resources Inc. now owns 394,122 shares of the company’s stock valued at $1,364,000 after purchasing an additional 223,042 shares in the last quarter. Congress Asset Management Co. raised its holdings in Relay Therapeutics by 160.9% in the third quarter. Congress Asset Management Co. now owns 408,842 shares of the company’s stock worth $2,134,000 after purchasing an additional 252,142 shares during the period. Geode Capital Management LLC boosted its position in shares of Relay Therapeutics by 5.2% during the second quarter. Geode Capital Management LLC now owns 3,229,666 shares of the company’s stock worth $11,176,000 after purchasing an additional 159,548 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Relay Therapeutics by 73.6% during the second quarter. Bank of Montreal Can now owns 55,174 shares of the company’s stock worth $191,000 after purchasing an additional 23,396 shares in the last quarter. Finally, Commodore Capital LP grew its holdings in shares of Relay Therapeutics by 27.3% in the 3rd quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock valued at $88,740,000 after buying an additional 3,650,000 shares during the period. 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.