Relay Therapeutics (NASDAQ:RLAY) Releases Earnings Results, Misses Estimates By $0.06 EPS

Key Points

• Quarterly miss: Relay reported EPS of ($0.41), missing the consensus ($0.35) by $0.06, and posted revenue of $3.0 million versus estimates of $5.58 million.
• Analyst optimism: Several firms have raised price targets (e.g., Guggenheim to $22, Barclays to $21), leaving a consensus target of $20.56 and an overall "Moderate Buy" rating.
• Market reaction and ownership: Shares traded around $13.00 mid-day (market cap ~$2.49B) while insiders sold ~22,732 shares in the past 90 days and institutional investors own roughly 97% of the stock.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) released its earnings results on Tuesday. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.06), FiscalAI reports. The firm had revenue of $3.00 million during the quarter, compared to analysts' expectations of $5.58 million.

Relay Therapeutics Stock Performance

Relay Therapeutics stock traded down $0.09 during mid-day trading on Tuesday, reaching $13.00. 1,950,616 shares of the company were exchanged, compared to its average volume of 2,773,997. The business has a fifty day moving average of $11.87 and a 200 day moving average of $9.17. The firm has a market cap of $2.49 billion, a P/E ratio of -8.02 and a beta of 1.74. Relay Therapeutics has a 12-month low of $2.67 and a 12-month high of $17.32.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RLAY. Guggenheim upped their target price on Relay Therapeutics from $15.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, March 13th. Barclays upped their target price on Relay Therapeutics from $17.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. Citigroup reaffirmed an "outperform" rating on shares of Relay Therapeutics in a research note on Tuesday, April 28th. Citizens Jmp upped their target price on Relay Therapeutics from $17.00 to $19.00 and gave the company a "market outperform" rating in a research note on Tuesday, April 28th. Finally, JonesTrading began coverage on Relay Therapeutics in a research note on Tuesday, April 14th. They set a "hold" rating and a $18.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $20.56.

Insiders Place Their Bets

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 1,800 shares of the company's stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $15.00, for a total transaction of $27,000.00. Following the completion of the sale, the chief financial officer owned 213,867 shares in the company, valued at $3,208,005. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 22,732 shares of company stock worth $305,048 in the last ninety days. 4.32% of the stock is owned by corporate insiders.

Institutional Trading of Relay Therapeutics

A number of hedge funds have recently bought and sold shares of the stock. Abel Hall LLC lifted its holdings in Relay Therapeutics by 16.2% during the fourth quarter. Abel Hall LLC now owns 12,984 shares of the company's stock worth $110,000 after buying an additional 1,809 shares during the period. Cresset Asset Management LLC lifted its holdings in Relay Therapeutics by 5.0% during the third quarter. Cresset Asset Management LLC now owns 38,932 shares of the company's stock worth $203,000 after buying an additional 1,848 shares during the period. Prelude Capital Management LLC lifted its holdings in Relay Therapeutics by 18.7% during the third quarter. Prelude Capital Management LLC now owns 19,700 shares of the company's stock worth $103,000 after buying an additional 3,100 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company's stock valued at $37,000 after purchasing an additional 3,287 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Relay Therapeutics by 3.2% during the 4th quarter. Deutsche Bank AG now owns 123,994 shares of the company's stock valued at $1,049,000 after purchasing an additional 3,803 shares during the last quarter. Hedge funds and other institutional investors 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.

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