Relay Therapeutics (NASDAQ:RLAY) Posts Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Key Points

• Relay Therapeutics reported a quarterly loss of $0.41 per share, missing analysts’ estimate by $0.02, while revenue of $0.35 million fell short of the $0.96 million consensus.
• Shares rose to $19.77, near the company’s 52-week high of $20.79. Analysts maintain a “Moderate Buy” consensus, with an average price target of $25.17.
• Institutional investors own approximately 96.98% of the stock, while company insiders sold 427,356 shares worth about $7.46 million over the past quarter.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.02), FiscalAI reports. The company had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million.

Relay Therapeutics Price Performance

NASDAQ RLAY traded up $0.02 during mid-day trading on Friday, reaching $19.77. The stock had a trading volume of 2,315,168 shares, compared to its average volume of 2,222,666. Relay Therapeutics has a 1 year low of $3.03 and a 1 year high of $20.79. The stock has a market cap of $3.79 billion, a PE ratio of -12.59 and a beta of 1.69. The company has a fifty day moving average price of $17.71 and a 200 day moving average price of $13.48.

Insiders Place Their Bets

In other Relay Therapeutics news, CEO Sanjiv Patel sold 48,199 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total transaction of $943,736.42. Following the sale, the chief executive officer directly owned 615,898 shares in the company, valued at approximately $12,059,282.84. This trade represents a 7.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 1,459 shares of the business's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total value of $27,151.99. Following the completion of the transaction, the chief financial officer owned 158,285 shares of the company's stock, valued at $2,945,683.85. This represents a 0.91% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 427,356 shares of company stock valued at $7,461,240. 5.04% of the stock is currently owned by company insiders.

Institutional Trading of Relay Therapeutics

Institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in shares of Relay Therapeutics by 11.9% during the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company's stock valued at $956,000 after purchasing an additional 38,812 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Relay Therapeutics by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company's stock worth $221,000 after purchasing an additional 5,238 shares during the last quarter. Millennium Management LLC boosted its holdings in Relay Therapeutics by 14.6% in the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company's stock worth $7,710,000 after purchasing an additional 374,491 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Relay Therapeutics in the 1st quarter worth approximately $53,000. Finally, Woodline Partners LP grew its position in Relay Therapeutics by 448.4% in the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company's stock worth $3,979,000 after purchasing an additional 1,241,657 shares during the period. Hedge funds and other institutional investors own 96.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of Relay Therapeutics from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday. Wall Street Zen raised Relay Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, June 6th. The Goldman Sachs Group boosted their price target on Relay Therapeutics from $22.00 to $31.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Wells Fargo & Company upped their price target on Relay Therapeutics from $17.00 to $21.00 and gave the company an "overweight" rating in a research report on Tuesday, April 28th. Finally, Canaccord Genuity Group started coverage on shares of Relay Therapeutics in a report on Thursday, July 16th. They issued a "buy" rating and a $29.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $25.17.

About Relay Therapeutics

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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