Relay Therapeutics (NASDAQ:RLAY) Announces Quarterly Earnings Results

Relay Therapeutics (NASDAQ:RLAY) announced its earnings results on Wednesday. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14, Briefing.com reports. Relay Therapeutics’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.54) EPS.

Relay Therapeutics Stock Down 1.8 %

RLAY stock opened at $6.14 on Friday. Relay Therapeutics has a 52-week low of $5.60 and a 52-week high of $12.14. The business has a fifty day moving average of $6.81 and a two-hundred day moving average of $7.01. The stock has a market cap of $822.08 million, a price-to-earnings ratio of -2.45 and a beta of 1.67.

Analyst Ratings Changes

Several research firms recently commented on RLAY. Oppenheimer downgraded Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the company from $10.60 to $16.00 in a research report on Tuesday, September 10th. HC Wainwright restated a “buy” rating and set a $19.00 price target on shares of Relay Therapeutics in a research report on Monday, October 14th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, September 17th. Finally, Barclays raised their target price on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Relay Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $21.11.

Insider Transactions at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 6,802 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the sale, the chief financial officer now directly owns 306,391 shares in the company, valued at approximately $1,856,729.46. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.32% of the company’s stock.

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.