Relay Therapeutics (NASDAQ:RLAY) Releases Earnings Results, Beats Estimates By $0.14 EPS

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

Relay Therapeutics Trading Down 1.8 %

RLAY stock traded down $0.11 during midday trading on Thursday, hitting $6.14. The company’s stock had a trading volume of 1,839,639 shares, compared to its average volume of 1,451,188. Relay Therapeutics has a 12 month low of $5.60 and a 12 month high of $12.14. The company has a market cap of $822.08 million, a PE ratio of -2.45 and a beta of 1.67. The firm’s 50-day moving average is $6.81 and its 200-day moving average is $7.01.

Insiders Place Their Bets

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.32% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Oppenheimer downgraded Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. The Goldman Sachs Group began coverage on Relay Therapeutics in a research note on Tuesday, September 10th. They set a “buy” rating and a $20.00 price target on the stock. Barclays raised their price objective on Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a research report on Tuesday, September 17th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $21.11.

About Relay Therapeutics

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.