HC Wainwright Issues Pessimistic Forecast for Relay Therapeutics (NASDAQ:RLAY) Stock Price

Key Points

• HC Wainwright has lowered its price target for Relay Therapeutics from $16.00 to $14.00, maintaining a "buy" rating, which still indicates a potential upside of 298.86% from the previous close.
• Other analysts, including Raymond James Financial and Guggenheim, have also reduced their price targets for Relay Therapeutics, reflecting a broader trend of lowered expectations for the stock.
• Insider trading activity shows a significant reduction in share ownership by CEO Sanjiv Patel, who sold over 61,000 shares, indicating possible concerns about the company's future performance.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) had its price target lowered by research analysts at HC Wainwright from $16.00 to $14.00 in a report released on Tuesday, MarketBeat Ratings reports. The firm currently has a "buy" rating on the stock. HC Wainwright's target price points to a potential upside of 279.40% from the stock's previous close. HC Wainwright also issued estimates for Relay Therapeutics' Q3 2025 earnings at ($0.38) EPS, Q4 2025 earnings at ($0.38) EPS, FY2025 earnings at ($1.62) EPS, Q1 2026 earnings at ($0.39) EPS, Q2 2026 earnings at ($0.40) EPS, Q3 2026 earnings at ($0.41) EPS, Q4 2026 earnings at ($0.42) EPS and FY2026 earnings at ($1.63) EPS.

A number of other research analysts have also issued reports on the company. Raymond James Financial decreased their target price on Relay Therapeutics from $29.00 to $19.00 and set a "strong-buy" rating for the company in a report on Friday, August 8th. Guggenheim reduced their price target on Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $17.08.

Relay Therapeutics Trading Up 3.4%

RLAY traded up $0.12 during trading hours on Tuesday, hitting $3.69. 811,718 shares of the company's stock were exchanged, compared to its average volume of 1,712,187. The firm has a market cap of $636.19 million, a P/E ratio of -1.89 and a beta of 1.62. Relay Therapeutics has a 12-month low of $1.77 and a 12-month high of $10.72. The firm has a 50 day moving average of $3.52 and a 200 day moving average of $3.26.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.08. The business had revenue of $0.70 million during the quarter, compared to analysts' expectations of $0.07 million. As a group, research analysts expect that Relay Therapeutics will post -2.55 EPS for the current fiscal year.

Insider Activity

In related news, CFO Thomas Catinazzo sold 18,380 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total value of $67,638.40. Following the completion of the transaction, the chief financial officer directly owned 335,295 shares of the company's stock, valued at $1,233,885.60. This represents a 5.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sanjiv Patel sold 61,379 shares of the stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $3.57, for a total transaction of $219,123.03. Following the completion of the transaction, the chief executive officer owned 765,288 shares in the company, valued at $2,732,078.16. This represents a 7.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 149,226 shares of company stock valued at $542,926 over the last 90 days. Insiders own 4.87% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Murchinson Ltd. purchased a new stake in Relay Therapeutics in the first quarter valued at $26,000. DRW Securities LLC purchased a new position in shares of Relay Therapeutics during the first quarter worth about $28,000. AssuredPartners Investment Advisors LLC purchased a new position in shares of Relay Therapeutics during the first quarter worth about $29,000. FNY Investment Advisers LLC increased its position in shares of Relay Therapeutics by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company's stock worth $34,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Quinn Opportunity Partners LLC acquired a new stake in shares of Relay Therapeutics during the second quarter worth about $35,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

About Relay Therapeutics

Relay Therapeutics, Inc operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company's lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors.