Relay Therapeutics (NASDAQ:RLAY) Issues Quarterly Earnings Results

Relay Therapeutics (NASDAQ:RLAYGet Free Report) released its earnings results on Wednesday. The company reported ($0.63) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.14, Briefing.com reports. During the same quarter in the prior year, the company posted ($0.54) earnings per share. The company’s revenue was down 100.0% on a year-over-year basis.

Relay Therapeutics Trading Down 1.8 %

NASDAQ:RLAY traded down $0.11 during mid-day trading on Thursday, hitting $6.14. The stock had a trading volume of 1,839,407 shares, compared to its average volume of 1,451,188. The company has a 50 day simple moving average of $6.81 and a 200-day simple moving average of $7.01. The stock has a market capitalization of $822.08 million, a price-to-earnings ratio of -2.45 and a beta of 1.67. Relay Therapeutics has a 52 week low of $5.60 and a 52 week high of $12.14.

Insiders Place Their Bets

In other news, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the sale, the chief financial officer now owns 306,391 shares of the company’s stock, valued at approximately $1,856,729.46. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.32% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RLAY has been the subject of a number of research reports. Bank of America lifted their price target on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $28.00 price target on shares of Relay Therapeutics in a report on Monday, September 16th. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the company from $10.60 to $16.00 in a research report on Tuesday, September 10th. HC Wainwright reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Relay Therapeutics in a report on Monday, October 14th. Finally, Barclays increased their target price 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. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.11.

Read Our Latest Analysis on RLAY

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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Earnings History for Relay Therapeutics (NASDAQ:RLAY)

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