Relay Therapeutics (NASDAQ:RLAY) Posts Earnings Results

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

Relay Therapeutics Price Performance

Shares of RLAY traded up $0.02 during midday trading on Friday, hitting $19.77. The stock had a trading volume of 2,315,168 shares, compared to its average volume of 2,222,666. The stock’s 50 day moving average is $17.71 and its 200 day moving average is $13.48. The firm has a market cap of $3.79 billion, a PE ratio of -12.59 and a beta of 1.69. Relay Therapeutics has a 1 year low of $3.03 and a 1 year high of $20.79.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RLAY. JonesTrading raised Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Guggenheim reissued a “buy” rating on shares of Relay Therapeutics in a research note on Friday. Citizens Jmp raised their price objective on shares of Relay Therapeutics from $19.00 to $21.00 and gave the company a “market outperform” rating in a research report on Wednesday, May 20th. UBS Group set a $26.00 price objective on Relay Therapeutics in a research note on Tuesday, May 19th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.17.

Insider Activity at Relay Therapeutics

In related news, insider Peter Rahmer sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total value of $954,500.00. Following the completion of the sale, the insider owned 225,857 shares in the company, valued at approximately $4,311,610.13. The trade was a 18.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald A. Bergstrom sold 93,456 shares of Relay Therapeutics stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.94, for a total value of $1,583,144.64. Following the completion of the sale, the insider owned 418,557 shares of the company’s stock, valued at $7,090,355.58. The trade was a 18.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 427,356 shares of company stock valued at $7,461,240. Company insiders own 5.04% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in RLAY. Smartleaf Asset Management LLC increased its holdings in shares of Relay Therapeutics by 288.6% in the fourth 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 period. Caitong International Asset Management Co. Ltd purchased a new stake in Relay Therapeutics in the fourth quarter valued at approximately $46,000. Captrust Financial Advisors acquired a new position in Relay Therapeutics in the 2nd quarter worth approximately $49,000. Cerity Partners LLC purchased a new position in Relay Therapeutics during the 2nd quarter worth approximately $51,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Relay Therapeutics during the 1st quarter valued at approximately $53,000. 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.