Relay Therapeutics (NASDAQ:RLAY) Stock Price Expected to Rise, HC Wainwright Analyst Says

Relay Therapeutics (NASDAQ:RLAY) had its target price increased by analysts at HC Wainwright from $14.00 to $19.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price target indicates a potential upside of 91.73% from the stock’s current price.

A number of other equities analysts have also commented on RLAY. Wells Fargo & Company lifted their price objective on Relay Therapeutics from $15.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, January 9th. Oppenheimer restated an “outperform” rating on shares of Relay Therapeutics in a research report on Monday, March 16th. Guggenheim upped their price objective on shares of Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, March 13th. Finally, Citizens Jmp increased their price objective on shares of Relay Therapeutics from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, Relay Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Relay Therapeutics Stock Down 0.9%

NASDAQ RLAY opened at $9.91 on Monday. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of -6.12 and a beta of 1.55. Relay Therapeutics has a twelve month low of $1.77 and a twelve month high of $11.49. The stock has a fifty day simple moving average of $8.91 and a 200 day simple moving average of $7.46.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, topping the consensus estimate of ($0.38) by $0.06. The company had revenue of $7.00 million for the quarter, compared to analyst estimates of $4.34 million. 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 company’s stock in a transaction dated Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total value of $143,979.90. Following the completion of the sale, the insider directly owned 422,733 shares of the company’s stock, valued at approximately $3,221,225.46. This represents a 4.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Peter Rahmer sold 11,684 shares of the company’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 value of $89,032.08. Following the completion of the transaction, the insider directly owned 277,964 shares of the company’s stock, valued at approximately $2,118,085.68. This 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 worth $724,355 over the last 90 days. Company insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Torren Management LLC purchased a new position in Relay Therapeutics in the 4th quarter valued at approximately $30,000. Smartleaf Asset Management LLC raised its holdings in Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after acquiring an additional 3,287 shares during the period. Quadrant Capital Group LLC lifted its position in shares of Relay Therapeutics by 245.1% during the second quarter. Quadrant Capital Group LLC now owns 11,791 shares of the company’s stock worth $41,000 after acquiring an additional 8,374 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Relay Therapeutics in the fourth quarter worth $46,000. Finally, Quadrature Capital Ltd bought a new position in shares of Relay Therapeutics in the second quarter worth $47,000. 96.98% of the stock is 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.