Relay Therapeutics (NASDAQ:RLAY) Posts Quarterly Earnings Results

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.62) earnings per share for the quarter, beating analysts' consensus estimates of ($0.70) by $0.08, Briefing.com reports. The firm had revenue of $10.01 million during the quarter, compared to analyst estimates of $0.12 million. Relay Therapeutics had a negative return on equity of 42.43% and a negative net margin of 1,263.49%. The business's quarterly revenue was up 4327.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.78) earnings per share.

Relay Therapeutics Stock Performance

NASDAQ RLAY traded down $0.04 on Friday, hitting $7.04. 1,167,554 shares of the stock were exchanged, compared to its average volume of 1,143,084. Relay Therapeutics has a 52-week low of $5.70 and a 52-week high of $13.32. The firm has a market capitalization of $931.67 million, a P/E ratio of -2.50 and a beta of 1.68. The stock has a fifty day moving average price of $7.92 and a two-hundred day moving average price of $8.78.

Analysts Set New Price Targets

A number of research firms have issued reports on RLAY. Leerink Partnrs reaffirmed an "outperform" rating on shares of Relay Therapeutics in a research note on Thursday, February 22nd. Stifel Nicolaus increased their price objective on shares of Relay Therapeutics from $25.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $26.00.

Relay Therapeutics Company Profile

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.

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