Relay Therapeutics (NASDAQ:RLAY) Releases Earnings Results

Relay Therapeutics (NASDAQ:RLAY) released its quarterly earnings data on Thursday. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.06, FiscalAI reports. The firm had revenue of $7.00 million for the quarter, compared to the consensus estimate of $4.34 million.

Relay Therapeutics Stock Up 12.0%

NASDAQ:RLAY traded up $1.10 on Friday, reaching $10.26. The stock had a trading volume of 8,212,883 shares, compared to its average volume of 1,975,426. The company has a market capitalization of $1.78 billion, a P/E ratio of -6.33 and a beta of 1.59. Relay Therapeutics has a 1-year low of $1.77 and a 1-year high of $11.43. The stock has a fifty day moving average price of $8.37 and a 200-day moving average price of $6.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Oppenheimer upgraded shares of Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 price target on the stock in a research note on Monday, January 26th. Wells Fargo & Company lifted their target price on shares of Relay Therapeutics from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $15.40.

Insider Activity

In other news, CEO Sanjiv Patel sold 43,168 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $7.82, for a total value of $337,573.76. Following the completion of the transaction, the chief executive officer owned 661,041 shares in the company, valued at approximately $5,169,340.62. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Donald A. Bergstrom sold 18,895 shares of the stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $143,979.90. Following the sale, the insider owned 422,733 shares in the company, valued at approximately $3,221,225.46. This trade represents a 4.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 93,302 shares of company stock worth $724,355. Corporate insiders own 4.87% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RLAY. Invesco Ltd. increased its position in Relay Therapeutics by 139.6% in the 4th quarter. Invesco Ltd. now owns 865,481 shares of the company’s stock valued at $7,322,000 after acquiring an additional 504,291 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of Relay Therapeutics during the fourth quarter valued at approximately $106,000. XTX Topco Ltd bought a new stake in shares of Relay Therapeutics during the fourth quarter valued at approximately $1,332,000. VARCOV Co. acquired a new stake in shares of Relay Therapeutics in the fourth quarter valued at approximately $248,000. Finally, Tudor Investment Corp ET AL raised its position in Relay Therapeutics by 10.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 84,163 shares of the company’s stock worth $712,000 after purchasing an additional 7,717 shares during the last quarter. 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.