HC Wainwright Research Analysts Raise Earnings Estimates for Relay Therapeutics, Inc. (NASDAQ:RLAY)

by · The Cerbat Gem

Relay Therapeutics, Inc. (NASDAQ:RLAY – Free Report) – Research analysts at HC Wainwright lifted their Q3 2024 earnings estimates for shares of Relay Therapeutics in a research report issued to clients and investors on Monday, September 16th. HC Wainwright analyst R. Burns now expects that the company will earn ($0.70) per share for the quarter, up from their previous forecast of ($0.73). HC Wainwright currently has a “Buy” rating and a $19.00 target price 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.

Relay Therapeutics (NASDAQ:RLAY – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same quarter in the prior year, the company earned ($0.81) EPS.

Several other analysts also recently issued reports on RLAY. JPMorgan Chase & Co. decreased their price objective on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Bank of America upped their price objective on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Barclays upped their price objective on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 price objective on shares of Relay Therapeutics in a report on Monday, September 16th. Finally, 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 for the company. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $21.11.

Read Our Latest Stock Analysis on Relay Therapeutics

Relay Therapeutics Trading Down 4.6 %

NASDAQ RLAY opened at $7.50 on Thursday. The company has a fifty day simple moving average of $7.59 and a 200 day simple moving average of $7.33. The company has a market cap of $1.00 billion, a P/E ratio of -2.84 and a beta of 1.64. Relay Therapeutics has a 1 year low of $5.70 and a 1 year high of $12.14.

Insider Transactions at Relay Therapeutics

In other news, insider Peter Rahmer sold 13,523 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $8.54, for a total transaction of $115,486.42. Following the completion of the transaction, the insider now directly owns 420,765 shares of the company’s stock, valued at approximately $3,593,333.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Thomas Catinazzo sold 10,780 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $8.56, for a total transaction of $92,276.80. Following the completion of the transaction, the chief financial officer now directly owns 319,650 shares of the company’s stock, valued at approximately $2,736,204. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter Rahmer sold 13,523 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $8.54, for a total transaction of $115,486.42. Following the transaction, the insider now directly owns 420,765 shares of the company’s stock, valued at $3,593,333.10. The disclosure for this sale can be found here. In the last three months, insiders sold 84,738 shares of company stock valued at $715,499. Company insiders own 4.32% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

A number of hedge funds have recently made changes to their positions in RLAY. EverSource Wealth Advisors LLC acquired a new stake in shares of Relay Therapeutics during the 2nd quarter worth about $37,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Relay Therapeutics during the 1st quarter worth about $79,000. Virtu Financial LLC acquired a new stake in shares of Relay Therapeutics during the 1st quarter worth about $87,000. Los Angeles Capital Management LLC increased its position 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 in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in shares of Relay Therapeutics during the 4th quarter worth about $126,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Relay Therapeutics Company Profile

(Get Free Report)

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.

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