Relay Therapeutics (NASDAQ:RLAY) Posts Earnings Results, Beats Expectations By $0.04 EPS

Relay Therapeutics (NASDAQ:RLAY) posted its quarterly earnings data on Tuesday. The company reported ($0.69) EPS for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04, Briefing.com reports. During the same period in the previous year, the firm posted ($0.81) EPS.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY traded down $0.57 during trading on Wednesday, reaching $6.62. 1,619,527 shares of the stock were exchanged, compared to its average volume of 1,230,187. Relay Therapeutics has a 12-month low of $5.70 and a 12-month high of $12.19. The firm’s 50-day moving average price is $7.45 and its 200 day moving average price is $7.90. The firm has a market cap of $878.74 million, a price-to-earnings ratio of -2.51 and a beta of 1.66.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RLAY shares. HC Wainwright cut 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 Wednesday, July 17th. Barclays decreased their price objective on Relay Therapeutics from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Friday, July 26th. Oppenheimer dropped their target price on Relay Therapeutics from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on Relay Therapeutics from $29.00 to $23.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, JMP Securities cut their price objective on shares of Relay Therapeutics from $24.00 to $21.00 and set a “market outperform” rating on the stock in a report on Thursday, July 18th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $21.67.

Insider Transactions at Relay Therapeutics

In related news, CEO Sanjiv Patel sold 36,706 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $9.07, for a total value of $332,923.42. Following the completion of the sale, the chief executive officer now directly owns 766,130 shares in the company, valued at approximately $6,948,799.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Peter Rahmer sold 20,450 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $7.06, for a total transaction of $144,377.00. Following the sale, the insider now owns 432,425 shares of the company’s stock, valued at $3,052,920.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjiv Patel sold 36,706 shares of Relay Therapeutics stock in a transaction on Friday, July 26th. The shares were sold at an average price of $9.07, for a total value of $332,923.42. Following the sale, the chief executive officer now directly owns 766,130 shares in the company, valued at approximately $6,948,799.10. The disclosure for this sale can be found here. Insiders sold 125,052 shares of company stock valued at $988,396 over the last 90 days. Corporate insiders own 4.32% of the company’s stock.

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.