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

Relay Therapeutics (NASDAQ:RLAY) issued its quarterly earnings results on Tuesday. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate 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 Down 3.1%

Shares of Relay Therapeutics stock traded down $0.41 during trading on Wednesday, reaching $12.60. The company’s stock had a trading volume of 1,434,951 shares, compared to its average volume of 2,757,969. The company has a market cap of $2.41 billion, a price-to-earnings ratio of -7.80 and a beta of 1.74. Relay Therapeutics has a 1-year low of $2.67 and a 1-year high of $17.32. The company has a 50-day simple moving average of $11.96 and a two-hundred day simple moving average of $9.22.

Insider Buying and Selling

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 1,800 shares of Relay Therapeutics stock in a transaction dated 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 transaction, the chief financial officer owned 213,867 shares in the company, valued at approximately $3,208,005. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 22,732 shares of company stock worth $305,048. Insiders own 4.32% of the company’s stock.

Hedge Funds Weigh In On Relay Therapeutics

A number of institutional investors have recently modified their holdings of the stock. Invesco Ltd. raised its stake in shares of Relay Therapeutics by 139.6% during the 4th quarter. Invesco Ltd. now owns 865,481 shares of the company’s stock valued at $7,322,000 after buying an additional 504,291 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in shares of Relay Therapeutics in the 4th quarter valued at about $106,000. XTX Topco Ltd purchased a new position in shares of Relay Therapeutics in the 4th quarter valued at about $1,332,000. VARCOV Co. purchased a new position in shares of Relay Therapeutics in the 4th quarter valued at about $248,000. Finally, Tudor Investment Corp ET AL increased its stake in shares of Relay Therapeutics by 10.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 84,163 shares of the company’s stock valued at $712,000 after purchasing an additional 7,717 shares in the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RLAY has been the topic of several research reports. Wells Fargo & Company raised their price objective on Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, April 28th. Barclays raised their price objective on Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, April 8th. Guggenheim raised their price objective on Relay Therapeutics from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Citigroup restated an “outperform” rating on shares of Relay Therapeutics in a report on Tuesday, April 28th. Finally, Oppenheimer raised their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $20.56.

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.