Relay Therapeutics (NASDAQ:RLAY) Announces Quarterly Earnings Results

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

Relay Therapeutics Price Performance

RLAY traded up $0.07 during trading on Wednesday, reaching $3.75. 1,282,524 shares of the stock were exchanged, compared to its average volume of 2,148,374. The company has a market capitalization of $627.69 million, a price-to-earnings ratio of -1.44 and a beta of 1.61. Relay Therapeutics has a 1 year low of $3.50 and a 1 year high of $10.72. The business’s 50 day moving average price is $4.33 and its two-hundred day moving average price is $5.57.

Analysts Set New Price Targets

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

Insider Transactions at Relay Therapeutics

In other news, insider Peter Rahmer sold 16,576 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $4.45, for a total transaction of $73,763.20. Following the completion of the transaction, the insider now directly owns 308,754 shares of the company’s stock, valued at $1,373,955.30. This trade represents a 5.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjiv Patel sold 75,324 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $3.70, for a total value of $278,698.80. Following the completion of the sale, the chief executive officer now directly owns 883,089 shares in the company, valued at approximately $3,267,429.30. The trade was a 7.86 % 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 in the last 90 days. 4.32% of the stock is currently owned by insiders.

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.