Relay Therapeutics (NASDAQ:RLAY) Announces Earnings Results

Relay Therapeutics (NASDAQ:RLAY) issued its earnings results on Wednesday. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.57) by $0.12, Zacks reports.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY traded down $0.10 on Friday, hitting $3.16. The company’s stock had a trading volume of 1,122,283 shares, compared to its average volume of 2,118,678. The company has a market capitalization of $528.09 million, a price-to-earnings ratio of -1.21 and a beta of 1.61. Relay Therapeutics has a 12 month low of $3.05 and a 12 month high of $10.72. The stock’s 50-day moving average is $4.31 and its two-hundred day moving average is $5.54.

Insider Buying and Selling

In related news, CEO Sanjiv Patel sold 140,182 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $539,700.70. Following the completion of the sale, the chief executive officer now directly owns 625,948 shares in the company, valued at approximately $2,409,899.80. This trade represents a 18.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Thomas Catinazzo sold 36,036 shares of the company’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $4.63, for a total value of $166,846.68. Following the completion of the transaction, the chief financial officer now directly owns 263,190 shares in the company, valued at $1,218,569.70. This represents a 12.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 570,152 shares of company stock valued at $2,491,157 over the last 90 days. 4.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RLAY. Leerink Partners dropped their price objective on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a report on Tuesday, January 14th. The Goldman Sachs Group dropped their price objective on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday. Finally, Stifel Nicolaus decreased their price target on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a report on Thursday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Relay Therapeutics has an average rating of “Moderate Buy” and an average price target of $19.80.

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.