Relay Therapeutics (NASDAQ:RLAY) Announces Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Relay Therapeutics (NASDAQ:RLAY) released its quarterly earnings data on Tuesday. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.06), FiscalAI reports. The company had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.58 million.

Relay Therapeutics Stock Down 0.7%

Relay Therapeutics stock traded down $0.09 during trading hours on Tuesday, hitting $13.00. The stock had a trading volume of 1,950,616 shares, compared to its average volume of 2,773,997. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of -8.02 and a beta of 1.74. Relay Therapeutics has a one year low of $2.67 and a one year high of $17.32. The business’s 50 day simple moving average is $11.87 and its 200-day simple moving average is $9.17.

Insider Buying and Selling

In other news, CFO Thomas Catinazzo sold 17,717 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $13.01, for a total transaction of $230,498.17. Following the completion of the transaction, the chief financial officer directly owned 213,867 shares in the company, valued at $2,782,409.67. This trade represents a 7.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 22,732 shares of company stock valued at $305,048 in the last ninety days. 4.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RLAY. Abel Hall LLC raised its holdings in Relay Therapeutics by 16.2% during the 4th quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock worth $110,000 after purchasing an additional 1,809 shares during the last quarter. Cresset Asset Management LLC boosted its stake in shares of Relay Therapeutics by 5.0% in the 3rd quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock valued at $203,000 after purchasing an additional 1,848 shares during the last quarter. Prelude Capital Management LLC boosted its stake in shares of Relay Therapeutics by 18.7% in the 3rd quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock valued at $103,000 after purchasing an additional 3,100 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after purchasing an additional 3,287 shares during the last quarter. Finally, Deutsche Bank AG boosted its stake in shares of Relay Therapeutics by 3.2% in the 4th quarter. Deutsche Bank AG now owns 123,994 shares of the company’s stock valued at $1,049,000 after purchasing an additional 3,803 shares during the last quarter. Institutional investors own 96.98% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Guggenheim raised their price objective on Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, March 13th. JonesTrading assumed coverage on Relay Therapeutics in a research note on Tuesday, April 14th. They issued a “hold” rating and a $18.00 price objective on the stock. The Goldman Sachs Group raised their price objective on Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Wells Fargo & Company raised their price objective on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, Oppenheimer increased their target price on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.56.

Relay Therapeutics Company Profile

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.