Relay Therapeutics (NASDAQ:RLAY) Releases Quarterly Earnings Results

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) released its earnings results on Wednesday. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.57) by $0.12, Zacks reports.

Relay Therapeutics Stock Performance

Shares of RLAY stock traded up $0.16 during trading hours on Friday, reaching $3.41. The company had a trading volume of 4,369,246 shares, compared to its average volume of 2,203,829. The business has a fifty day moving average price of $4.29 and a 200-day moving average price of $5.51. Relay Therapeutics has a one year low of $3.05 and a one year high of $10.72. The firm has a market cap of $570.78 million, a PE ratio of -1.31 and a beta of 1.61.

Analysts Set New Price Targets

Several research firms recently commented on RLAY. HC Wainwright reaffirmed a "buy" rating and set a $16.00 target price on shares of Relay Therapeutics in a report on Tuesday, January 14th. Leerink Partners reduced their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, December 4th. The Goldman Sachs Group cut their price target on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday. JMP Securities reissued a "market outperform" rating and issued a $21.00 price target on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, Stifel Nicolaus cut their price target on shares of Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $19.80.

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Insider Transactions at Relay Therapeutics

In related news, insider Peter Rahmer sold 32,156 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $4.15, for a total transaction of $133,447.40. Following the completion of the sale, the insider now directly owns 357,507 shares in the company, valued at approximately $1,483,654.05. The trade was a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjiv Patel sold 75,324 shares of the business's stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $3.70, for a total transaction of $278,698.80. Following the sale, the chief executive officer now owns 883,089 shares of the company's stock, valued at $3,267,429.30. This trade represents a 7.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 570,152 shares of company stock worth $2,491,157 over the last three months. 4.32% of the stock is currently owned by company insiders.

About Relay Therapeutics

Relay Therapeutics, Inc operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company's lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors.