Relay Therapeutics (NASDAQ:RLAY) Releases Quarterly Earnings Results

Relay Therapeutics (NASDAQ:RLAY) issued its quarterly earnings results on Wednesday. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.14, Zacks reports.

Relay Therapeutics Stock Performance

RLAY traded up $0.07 during midday trading on Wednesday, reaching $3.75. 1,282,534 shares of the company were exchanged, compared to its average volume of 2,148,417. The company’s fifty day moving average price is $4.33 and its 200 day moving average price is $5.57. The company has a market cap of $627.69 million, a price-to-earnings ratio of -1.44 and a beta of 1.61. Relay Therapeutics has a one year low of $3.50 and a one year high of $10.72.

Insider Transactions at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 36,036 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $4.63, for a total value of $166,846.68. Following the transaction, the chief financial officer now owns 263,190 shares of the company’s stock, valued at $1,218,569.70. This represents a 12.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjiv Patel sold 75,324 shares of Relay Therapeutics stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $3.70, for a total value of $278,698.80. Following the completion of the transaction, the chief executive officer now owns 883,089 shares in the company, valued at approximately $3,267,429.30. This represents a 7.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 570,152 shares of company stock worth $2,491,157 in the last 90 days. Insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

RLAY has been the subject of a number of research reports. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, January 14th. Leerink Partners cut their price objective on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. Finally, JMP Securities reissued a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $20.50.

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.