Relay Therapeutics (NASDAQ:RLAY – Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02), FiscalAI reports. The business had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million.
Relay Therapeutics Price Performance
Shares of RLAY traded up $0.02 during mid-day 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 firm has a market cap of $3.79 billion, a P/E ratio of -12.59 and a beta of 1.69. The business has a fifty day moving average price of $17.71 and a 200-day moving average price of $13.48. Relay Therapeutics has a 52 week low of $3.03 and a 52 week high of $20.79.
Insider Transactions at Relay Therapeutics
In related news, CFO Thomas Catinazzo sold 187,163 shares of the business’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $16.97, for a total value of $3,176,156.11. Following the sale, the chief financial officer directly owned 177,461 shares in the company, valued at approximately $3,011,513.17. The trade was a 51.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Donald A. Bergstrom sold 93,456 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the sale, the insider directly owned 418,557 shares in the company, valued at approximately $7,090,355.58. This trade represents a 18.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 427,356 shares of company stock worth $7,461,240 over the last 90 days. 5.04% of the stock is owned by insiders.
Institutional Trading of Relay Therapeutics
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on RLAY. HC Wainwright raised their target price on Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Canaccord Genuity Group started coverage on shares of Relay Therapeutics in a report on Thursday, July 16th. They issued a “buy” rating and a $29.00 price target on the stock. Raymond James Financial restated a “strong-buy” rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Citizens Jmp raised their price objective on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 20th. Finally, UBS Group set a $26.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $25.17.
Read Our Latest Analysis on Relay Therapeutics
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.
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