Wells Fargo & Company Boosts Relay Therapeutics (NASDAQ:RLAY) Price Target to $15.00

Relay Therapeutics (NASDAQ:RLAY) had its price target upped by Wells Fargo & Company from $13.00 to $15.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 41.74% from the company’s previous close.

Several other equities analysts have also recently issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, January 9th. Oppenheimer raised Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $15.40.

Relay Therapeutics Trading Up 15.5%

Shares of Relay Therapeutics stock traded up $1.42 during trading on Friday, reaching $10.58. The company’s stock had a trading volume of 3,641,195 shares, compared to its average volume of 2,208,951. The company has a 50-day moving average price of $8.33 and a two-hundred day moving average price of $6.67. The firm has a market cap of $1.83 billion, a PE ratio of -6.05 and a beta of 1.59. Relay Therapeutics has a fifty-two week low of $1.77 and a fifty-two week high of $11.43.

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, topping analysts’ consensus estimates of ($0.38) by $0.06. The business had revenue of $7.00 million for the quarter, compared to analyst estimates of $4.34 million. On average, analysts predict that Relay Therapeutics will post -2.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Relay Therapeutics news, 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sanjiv Patel sold 43,168 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $7.82, for a total transaction of $337,573.76. Following the sale, the chief executive officer owned 661,041 shares in the company, valued at $5,169,340.62. The trade was a 6.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 93,302 shares of company stock worth $724,355. Insiders own 4.87% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RLAY. AQR Capital Management LLC boosted its stake in shares of Relay Therapeutics by 11.9% during the 1st quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after acquiring an additional 38,812 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Relay Therapeutics by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after purchasing an additional 5,238 shares during the last quarter. Millennium Management LLC raised its holdings in Relay Therapeutics by 14.6% during the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after purchasing an additional 374,491 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Relay Therapeutics during the first quarter worth $53,000. Finally, Woodline Partners LP boosted its position in Relay Therapeutics by 448.4% during the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after purchasing an additional 1,241,657 shares in the last quarter. 96.98% of the stock is 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.