Wells Fargo analyst Eva Fortea Verdejo has maintained their neutral stance on RLAY stock, giving a Hold rating yesterday.
Eva Fortea Verdejo’s rating is based on the current lack of significant short-term catalysts for Relay Therapeutics, as the company is in a phase focused on execution. The anticipated data updates from the ReDiscover study, while informative, are not expected to significantly impact the stock price in the near term. Additionally, ongoing studies in vascular malformations show potential, but key data is not expected imminently.
Despite the company’s solid cash position, which is projected to support operations into 2029, the stock has underperformed compared to broader indices, partly due to the absence of immediate clinical milestones. While there is potential in their pipeline, particularly with RLY-2608, the stock is expected to remain within a certain range until more substantial developments occur.
RLAY’s price has also changed dramatically for the past six months – from $5.950 to $3.320, which is a -44.20% drop .