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

Key Points

• HC Wainwright raised Relay Therapeutics’ price target to $29 from $28 and maintained a “buy” rating, implying approximately 39.8% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average target price of $25.92, although ratings include two “sell” recommendations.
• Relay Therapeutics reported a quarterly loss of $0.41 per share, slightly worse than estimates, while revenue of $0.35 million fell short of the $0.96 million consensus forecast.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) had its price objective increased by stock analysts at HC Wainwright from $28.00 to $29.00 in a note issued to investors on Thursday, Marketbeat reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price target indicates a potential upside of 39.83% from the company's previous close.

RLAY has been the subject of a number of other reports. Weiss Ratings restated a "sell (d-)" rating on shares of Relay Therapeutics in a report on Monday, July 6th. UBS Group set a $26.00 price target on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Raymond James Financial reissued a "strong-buy" rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Barclays raised their price objective on shares of Relay Therapeutics from $27.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, August 7th. Finally, JonesTrading upgraded shares of Relay Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $25.92.

Relay Therapeutics Stock Up 0.6%

NASDAQ:RLAY opened at $20.74 on Thursday. The stock's fifty day moving average is $18.66 and its two-hundred day moving average is $14.23. Relay Therapeutics has a 52 week low of $3.31 and a 52 week high of $21.27. The stock has a market capitalization of $4.54 billion, a price-to-earnings ratio of -13.21 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The firm had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. On average, sell-side analysts expect that Relay Therapeutics will post -1.6 EPS for the current fiscal year.

Insider Buying and Selling

In other Relay Therapeutics news, CEO Sanjiv Patel sold 48,199 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total value of $943,736.42. Following the sale, the chief executive officer owned 615,898 shares of the company's stock, valued at $12,059,282.84. This trade represents a 7.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Rahmer sold 50,000 shares of Relay Therapeutics stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total value of $954,500.00. Following the completion of the transaction, the insider owned 225,857 shares of the company's stock, valued at $4,311,610.13. The trade was a 18.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 409,639 shares of company stock worth $7,233,399 in the last quarter. Company insiders own 5.04% of the company's stock.

Institutional Trading of Relay Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Alphabet Inc. purchased a new stake in shares of Relay Therapeutics in the 2nd quarter valued at approximately $26,382,000. California State Teachers Retirement System raised its holdings in shares of Relay Therapeutics by 47.9% in the 1st quarter. California State Teachers Retirement System now owns 174,099 shares of the company's stock valued at $1,732,000 after purchasing an additional 56,422 shares in the last quarter. Persistent Asset Partners Ltd purchased a new stake in shares of Relay Therapeutics during the 2nd quarter worth $1,323,000. Sanctuary Advisors LLC purchased a new stake in shares of Relay Therapeutics during the 4th quarter worth $1,203,000. Finally, Affinity Asset Advisors LLC acquired a new position in shares of Relay Therapeutics during the first quarter worth $3,980,000. Institutional investors and hedge funds own 96.98% of the company's stock.

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.

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