Relay Therapeutics (NASDAQ:RLAY) Issues Earnings Results

Relay Therapeutics (NASDAQ:RLAY) released its quarterly earnings results on Thursday. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02), FiscalAI reports. The business had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.96 million.

Relay Therapeutics Stock Up 0.1%

Shares of Relay Therapeutics stock traded up $0.02 on Friday, reaching $19.77. 2,315,168 shares of the stock were exchanged, compared to its average volume of 2,222,666. The business has a 50 day moving average price of $17.71 and a two-hundred day moving average price of $13.48. The firm has a market capitalization of $3.79 billion, a price-to-earnings ratio of -12.59 and a beta of 1.69. Relay Therapeutics has a twelve month low of $3.03 and a twelve month high of $20.79.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Zacks Research lowered Relay Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. Wall Street Zen upgraded shares of Relay Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. HC Wainwright boosted their target price on shares of Relay Therapeutics from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Citizens Jmp upped their price target on shares of Relay Therapeutics from $19.00 to $21.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 20th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday, May 20th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $25.17.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 187,163 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.97, for a total transaction of $3,176,156.11. Following the completion of the transaction, the chief financial officer directly owned 177,461 shares of the company’s stock, valued at approximately $3,011,513.17. This trade represents a 51.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Peter Rahmer sold 50,000 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total transaction of $954,500.00. Following the sale, the insider owned 225,857 shares of the company’s stock, valued at approximately $4,311,610.13. The trade was a 18.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 427,356 shares of company stock worth $7,461,240 in the last 90 days. Corporate insiders own 5.04% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC grew its position in Relay Therapeutics by 11.9% during the 1st quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after purchasing an additional 38,812 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Relay Therapeutics by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after buying an additional 5,238 shares during the last quarter. Millennium Management LLC grew its holdings in Relay Therapeutics by 14.6% during the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after acquiring an additional 374,491 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Relay Therapeutics during the first quarter worth about $53,000. Finally, Woodline Partners LP raised its position in Relay Therapeutics by 448.4% during the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock valued at $3,979,000 after acquiring an additional 1,241,657 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

About Relay Therapeutics

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.