Relay Therapeutics (NASDAQ:RLAY) Issues Quarterly Earnings Results, Beats Expectations By $0.06 EPS

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

Relay Therapeutics Trading Down 0.7%

Shares of NASDAQ:RLAY traded down $0.06 during trading on Thursday, reaching $9.16. The company’s stock had a trading volume of 1,731,663 shares, compared to its average volume of 1,978,071. The stock has a market capitalization of $1.59 billion, a PE ratio of -5.23 and a beta of 1.59. Relay Therapeutics has a 12 month low of $1.77 and a 12 month high of $9.54. The firm’s 50 day simple moving average is $8.33 and its two-hundred day simple moving average is $6.67.

Insider Buying and Selling

In other news, CFO Thomas Catinazzo sold 13,820 shares of the firm’s 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 $105,308.40. Following the completion of the sale, the chief financial officer directly owned 250,996 shares of the company’s stock, valued at $1,912,589.52. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Peter Rahmer sold 11,684 shares of the stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $7.62, for a total value of $89,032.08. Following the sale, the insider owned 277,964 shares in the company, valued at $2,118,085.68. The trade was a 4.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 93,302 shares of company stock valued at $724,355. 4.87% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Commodore Capital LP purchased a new stake in shares of Relay Therapeutics in the second quarter worth approximately $46,191,000. Perceptive Advisors LLC bought a new position in Relay Therapeutics in the 4th quarter valued at $16,101,000. TCG Crossover Management LLC bought a new position in Relay Therapeutics in the 3rd quarter valued at $9,450,000. State Street Corp increased its stake in Relay Therapeutics by 26.8% in the fourth quarter. State Street Corp now owns 6,426,111 shares of the company’s stock worth $54,365,000 after purchasing an additional 1,360,121 shares during the period. Finally, Woodline Partners LP lifted its position in shares of Relay Therapeutics by 448.4% during the first 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 last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Oppenheimer raised shares of Relay Therapeutics from a “market perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a report on Monday, January 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Friday, January 9th. Finally, Wells Fargo & Company upgraded Relay Therapeutics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $6.00 to $13.00 in a research report on Friday, December 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Relay Therapeutics has an average rating of “Moderate Buy” and an average target price of $16.57.

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.