Relay Therapeutics (NASDAQ:RLAY – Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.03, FiscalAI reports.
Relay Therapeutics Price Performance
RLAY traded down $1.11 during trading on Thursday, hitting $16.92. The company’s stock had a trading volume of 2,828,722 shares, compared to its average volume of 3,129,153. The firm’s 50 day moving average price is $18.38 and its 200-day moving average price is $15.09. The stock has a market cap of $3.71 billion, a PE ratio of -10.79 and a beta of 1.74. Relay Therapeutics has a twelve month low of $5.95 and a twelve month high of $21.27.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on RLAY shares. Citigroup reiterated a “market outperform” rating on shares of Relay Therapeutics in a report on Monday, August 10th. Zacks Research raised Relay Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. The Goldman Sachs Group boosted their price target on Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. HC Wainwright upped their price objective on Relay Therapeutics from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, October 2nd. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.92.
Read Our Latest Research Report on Relay Therapeutics
Insider Buying and Selling at Relay Therapeutics
In related news, insider Peter Rahmer sold 4,508 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $20.03, for a total value of $90,295.24. Following the completion of the transaction, the insider directly owned 223,657 shares in the company, valued at approximately $4,479,849.71. This represents a 1.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas Catinazzo sold 1,469 shares of the stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $18.62, for a total value of $27,352.78. Following the transaction, the chief financial officer owned 103,665 shares in the company, valued at $1,930,242.30. This trade represents a 1.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 6,149,344 shares of company stock valued at $119,185,625. 5.04% of the stock is currently owned by insiders.
About Relay Therapeutics
Relay Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines for cancer and other serious diseases. The company uses its Dynamo platform, which combines structural biology, computational modeling, machine learning and experimental science to study how proteins move and interact. Relay aims to use this approach to identify precisely targeted therapies, including medicines designed to bind to previously difficult-to-drug sites.
The company’s pipeline has primarily focused on oncology, including investigational small-molecule therapies directed at cancer-driving proteins and signaling pathways.
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