Relay Therapeutics (NASDAQ:RLAY – Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02), FiscalAI reports. The company had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.96 million.
Relay Therapeutics Stock Performance
Shares of Relay Therapeutics stock traded up $0.02 during midday trading on Friday, hitting $19.77. 2,315,168 shares of the company traded hands, compared to its average volume of 2,222,666. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -12.59 and a beta of 1.69. The firm’s fifty day moving average price is $17.71 and its 200-day moving average price is $13.48. Relay Therapeutics has a 12 month low of $3.03 and a 12 month high of $20.79.
Wall Street Analysts Forecast Growth
RLAY has been the topic of several analyst reports. JonesTrading raised shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. JPMorgan Chase & Co. assumed coverage on Relay Therapeutics in a research note on Wednesday, July 8th. They set an “overweight” rating and a $28.00 target price for the company. Oppenheimer raised their target price on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Guggenheim reiterated a “buy” rating on shares of Relay Therapeutics in a research note on Friday. Finally, Citigroup reissued an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday, May 20th. Two 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 stock. According to MarketBeat.com, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $25.17.
Insider Activity at Relay Therapeutics
In other news, CFO Thomas Catinazzo sold 1,459 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total transaction of $27,151.99. Following the completion of the transaction, the chief financial officer directly owned 158,285 shares in the company, valued at approximately $2,945,683.85. This represents a 0.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Donald A. Bergstrom sold 2,237 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total value of $41,630.57. Following the completion of the transaction, the insider owned 407,660 shares of the company’s stock, valued at $7,586,552.60. The trade was a 0.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 427,356 shares of company stock worth $7,461,240. Corporate insiders own 5.04% of the company’s stock.
Hedge Funds Weigh In On Relay Therapeutics
A number of institutional investors and hedge funds have recently bought and sold shares of RLAY. Smartleaf Asset Management LLC grew its holdings in shares of Relay Therapeutics by 288.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after purchasing an additional 3,287 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Relay Therapeutics during the 4th quarter worth approximately $46,000. Abel Hall LLC bought a new stake in Relay Therapeutics during the 3rd quarter worth approximately $58,000. Opal Capital LLC bought a new stake in Relay Therapeutics during the 4th quarter worth approximately $99,000. Finally, EP Wealth Advisors LLC acquired a new position in Relay Therapeutics in the 4th quarter valued at approximately $106,000. Institutional investors and hedge funds own 96.98% of the company’s stock.
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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