Q3 2024 Earnings Forecast for Relay Therapeutics, Inc. Issued By HC Wainwright (NASDAQ:RLAY)

Relay Therapeutics, Inc. (NASDAQ:RLAY) – Analysts at HC Wainwright increased their Q3 2024 EPS estimates for shares of Relay Therapeutics in a report released on Monday, September 16th. HC Wainwright analyst R. Burns now expects that the company will post earnings of ($0.70) per share for the quarter, up from their prior estimate of ($0.73). HC Wainwright currently has a “Buy” rating and a $19.00 price objective on the stock. The consensus estimate for Relay Therapeutics’ current full-year earnings is ($2.86) per share. HC Wainwright also issued estimates for Relay Therapeutics’ Q4 2024 earnings at ($0.63) EPS, FY2024 earnings at ($2.65) EPS, Q1 2025 earnings at ($0.64) EPS, Q2 2025 earnings at ($0.65) EPS, Q3 2025 earnings at ($0.66) EPS, Q4 2025 earnings at ($0.67) EPS and FY2025 earnings at ($2.62) EPS.

Other analysts have also issued reports about the stock. Barclays increased their target price on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Bank of America increased their target price on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Stifel Nicolaus reissued a “buy” rating and set a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th. Oppenheimer lowered shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Finally, JPMorgan Chase & Co. cut their target price on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.11.

Relay Therapeutics Trading Down 4.6 %

RLAY stock opened at $7.50 on Thursday. Relay Therapeutics has a 52 week low of $5.70 and a 52 week high of $12.14. The company has a market capitalization of $1.00 billion, a price-to-earnings ratio of -2.84 and a beta of 1.64. The firm’s 50-day moving average is $7.59 and its two-hundred day moving average is $7.33.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same quarter in the prior year, the company earned ($0.81) EPS.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RLAY. EverSource Wealth Advisors LLC acquired a new position in Relay Therapeutics in the 2nd quarter valued at approximately $37,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Relay Therapeutics during the 1st quarter worth $79,000. Virtu Financial LLC acquired a new position in shares of Relay Therapeutics during the 1st quarter worth $87,000. Los Angeles Capital Management LLC increased its stake in shares of Relay Therapeutics by 25.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after purchasing an additional 2,850 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Relay Therapeutics during the 4th quarter worth $126,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Insider Activity at Relay Therapeutics

In related news, insider Peter Rahmer sold 13,523 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $8.54, for a total value of $115,486.42. Following the completion of the sale, the insider now owns 420,765 shares in the company, valued at approximately $3,593,333.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Relay Therapeutics news, insider Peter Rahmer sold 13,523 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $8.54, for a total value of $115,486.42. Following the transaction, the insider now owns 420,765 shares in the company, valued at approximately $3,593,333.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Thomas Catinazzo sold 9,373 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $6.24, for a total transaction of $58,487.52. Following the completion of the transaction, the chief financial officer now owns 330,430 shares in the company, valued at approximately $2,061,883.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 84,738 shares of company stock worth $715,499. 4.32% of the stock is owned by corporate insiders.

Relay Therapeutics Company Profile

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.