Relay Therapeutics (NASDAQ:RLAY) Announces Earnings Results

Relay Therapeutics (NASDAQ:RLAY) posted its quarterly earnings results on Wednesday. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.14, Briefing.com reports. Relay Therapeutics’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.54) earnings per share.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY opened at $6.14 on Friday. The company has a market capitalization of $822.08 million, a PE ratio of -2.45 and a beta of 1.67. The company’s fifty day moving average price is $6.81 and its 200 day moving average price is $7.01. Relay Therapeutics has a 1 year low of $5.60 and a 1 year high of $12.14.

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the sale, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at $1,856,729.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RLAY. HC Wainwright restated a “buy” rating and issued a $19.00 target price on shares of Relay Therapeutics in a research note on Monday, October 14th. Barclays raised their price objective on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. Bank of America lifted their target price on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. The Goldman Sachs Group started coverage on shares of Relay Therapeutics in a report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price target on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $21.11.

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.