Relay Therapeutics, Inc. (NASDAQ:RLAY) Expected to Announce Earnings of -$0.65 Per Share

Brokerages predict that Relay Therapeutics, Inc. (NASDAQ:RLAY) will report earnings of ($0.65) per share for the current quarter, Zacks reports. Zero analysts have made estimates for Relay Therapeutics’ earnings. The lowest EPS estimate is ($0.66) and the highest is ($0.64). The company is expected to issue its next earnings report on Thursday, November 11th.

On average, analysts expect that Relay Therapeutics will report full-year earnings of ($3.87) per share for the current financial year, with EPS estimates ranging from ($3.91) to ($3.80). For the next fiscal year, analysts forecast that the firm will report earnings of ($2.59) per share, with EPS estimates ranging from ($2.82) to ($2.27). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Relay Therapeutics.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Thursday, August 12th. The company reported ($2.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($1.62). The company had revenue of $0.84 million for the quarter.

A number of research analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Relay Therapeutics in a research note on Wednesday, July 21st. They set a “buy” rating and a $50.00 price target on the stock. Zacks Investment Research lowered shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Thursday, August 19th. Finally, HC Wainwright reduced their price target on shares of Relay Therapeutics from $57.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, August 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.80.

Shares of NASDAQ:RLAY traded down $0.31 during trading on Wednesday, hitting $36.78. The company’s stock had a trading volume of 13,929 shares, compared to its average volume of 645,200. The business has a 50 day moving average price of $32.92 and a two-hundred day moving average price of $33.72. Relay Therapeutics has a fifty-two week low of $26.44 and a fifty-two week high of $64.37.

In other news, General Counsel Brian Adams sold 6,500 shares of the business’s stock in a transaction on Monday, September 13th. The shares were sold at an average price of $35.02, for a total value of $227,630.00. Following the completion of the sale, the general counsel now directly owns 32,077 shares in the company, valued at $1,123,336.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Thomas Catinazzo sold 22,500 shares of the business’s stock in a transaction on Monday, September 13th. The stock was sold at an average price of $35.00, for a total transaction of $787,500.00. Following the transaction, the senior vice president now directly owns 38,077 shares in the company, valued at approximately $1,332,695. The disclosure for this sale can be found here. 4.88% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the business. FMR LLC boosted its stake in shares of Relay Therapeutics by 77.8% in the 2nd quarter. FMR LLC now owns 10,362,000 shares of the company’s stock valued at $379,145,000 after purchasing an additional 4,533,548 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Relay Therapeutics by 19.5% in the 2nd quarter. BlackRock Inc. now owns 4,540,330 shares of the company’s stock valued at $166,131,000 after purchasing an additional 741,600 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Relay Therapeutics by 6.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,293,442 shares of the company’s stock valued at $157,096,000 after purchasing an additional 242,361 shares in the last quarter. EcoR1 Capital LLC boosted its stake in shares of Relay Therapeutics by 7.1% in the 1st quarter. EcoR1 Capital LLC now owns 3,429,363 shares of the company’s stock valued at $118,553,000 after purchasing an additional 228,714 shares in the last quarter. Finally, BVF Inc. IL lifted its position in Relay Therapeutics by 2.3% during the 2nd quarter. BVF Inc. IL now owns 2,938,202 shares of the company’s stock worth $107,509,000 after buying an additional 65,055 shares in the last quarter. 93.94% of the stock is currently owned by hedge funds and other institutional investors.

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. The company's lead product candidates include RLY-1971, an oral small molecule inhibitor of protein tyrosine phosphatase Src homology region 2 domain-containing phosphatase-2 that is in Phase 1 trial in patients with advanced solid tumors; RLY-4008, an oral small molecule selective inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced solid tumors having oncogenic FGFR2 alterations; and RLY-PI3K1047, a lead compound that targets cancer-associated mutant variants of phosphoinositide 3-kinase alpha.

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