Relay Therapeutics (NASDAQ:RLAY) Issues Earnings Results

by · The Markets Daily

Relay Therapeutics (NASDAQ:RLAY – Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.04), Zacks reports.

Relay Therapeutics Trading Down 7.4%

Shares of NASDAQ RLAY traded down $0.48 during midday trading on Friday, reaching $6.05. The company had a trading volume of 4,990,062 shares, compared to its average volume of 2,037,668. Relay Therapeutics has a 1 year low of $1.77 and a 1 year high of $7.64. The business’s 50-day simple moving average is $5.55 and its 200 day simple moving average is $4.10. The stock has a market cap of $1.04 billion, a P/E ratio of -3.46 and a beta of 1.76.

Insider Transactions at Relay Therapeutics

In related news, insider Donald A. Bergstrom sold 30,897 shares of the firm’s stock in a transaction on Tuesday, October 28th. The stock was sold at an average price of $7.29, for a total value of $225,239.13. Following the completion of the transaction, the insider owned 521,823 shares in the company, valued at $3,804,089.67. This trade represents a 5.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Peter Rahmer sold 21,394 shares of Relay Therapeutics stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $7.50, for a total value of $160,455.00. Following the sale, the insider directly owned 337,469 shares of the company’s stock, valued at approximately $2,531,017.50. This represents a 5.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 155,163 shares of company stock valued at $1,117,630 in the last quarter. Insiders own 4.87% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Captrust Financial Advisors purchased a new stake in Relay Therapeutics in the second quarter valued at approximately $49,000. Cerity Partners LLC acquired a new stake in Relay Therapeutics during the 2nd quarter valued at approximately $51,000. Jump Financial LLC acquired a new stake in Relay Therapeutics during the 2nd quarter valued at approximately $53,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Relay Therapeutics in the 1st quarter valued at $53,000. Finally, Sei Investments Co. acquired a new stake in shares of Relay Therapeutics in the second quarter worth $89,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Wall Street Analyst Weigh In

RLAY has been the subject of several recent analyst reports. Guggenheim began coverage on shares of Relay Therapeutics in a research note on Thursday, September 4th. They set a “buy” rating and a $15.00 price objective for the company. Raymond James Financial cut their price target on shares of Relay Therapeutics from $29.00 to $19.00 and set a “strong-buy” rating on the stock in a report on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Tuesday, October 14th. HC Wainwright lowered their price objective on Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating for the company in a research report on Tuesday, August 26th. Finally, Wells Fargo & Company boosted their target price on Relay Therapeutics from $4.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $16.75.

Get Our Latest Stock Analysis on Relay Therapeutics

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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