Relay Therapeutics, Inc. (NASDAQ:RLAY) Expected to Announce Earnings of -$0.48 Per Share

Brokerages predict that Relay Therapeutics, Inc. (NASDAQ:RLAY) will report earnings per share of ($0.48) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Relay Therapeutics’ earnings. The highest EPS estimate is ($0.45) and the lowest is ($0.50). Relay Therapeutics reported earnings per share of ($6.06) in the same quarter last year, which would suggest a positive year-over-year growth rate of 92.1%. The firm is expected to announce its next quarterly earnings results on Thursday, August 26th.

According to Zacks, analysts expect that Relay Therapeutics will report full-year earnings of ($1.87) per share for the current financial year, with EPS estimates ranging from ($2.04) to ($1.62). For the next year, analysts forecast that the business will report earnings of ($1.74) per share, with EPS estimates ranging from ($2.09) to ($1.39). Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Relay Therapeutics.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, May 13th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.02. The business had revenue of $0.95 million during the quarter, compared to analysts’ expectations of $17.30 million.

A number of analysts have recently issued reports on RLAY shares. Bank of America started coverage on Relay Therapeutics in a report on Wednesday. They set a “buy” rating and a $50.00 target price for the company. Zacks Investment Research cut Relay Therapeutics from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, JMP Securities boosted their target price on Relay Therapeutics from $50.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, March 29th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $53.43.

In related news, General Counsel Brian Adams sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, June 7th. The stock was sold at an average price of $35.00, for a total transaction of $227,500.00. Following the transaction, the general counsel now directly owns 32,370 shares of the company’s stock, valued at approximately $1,132,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald A. Bergstrom sold 42,242 shares of the business’s stock in a transaction that occurred on Wednesday, June 16th. The stock was sold at an average price of $33.75, for a total value of $1,425,667.50. Following the transaction, the insider now directly owns 119,483 shares in the company, valued at $4,032,551.25. The disclosure for this sale can be found here. Insiders have sold a total of 77,742 shares of company stock worth $2,668,168 over the last three months. 4.88% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. EcoR1 Capital LLC raised its position 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. Bessemer Group Inc. raised its position in shares of Relay Therapeutics by 10.0% in the 1st quarter. Bessemer Group Inc. now owns 584,463 shares of the company’s stock valued at $20,205,000 after purchasing an additional 53,339 shares in the last quarter. Standard Life Aberdeen plc acquired a new position in shares of Relay Therapeutics in the 1st quarter valued at approximately $4,619,000. UBS Asset Management Americas Inc. raised its position in shares of Relay Therapeutics by 90.3% in the 4th quarter. UBS Asset Management Americas Inc. now owns 484,395 shares of the company’s stock valued at $20,131,000 after purchasing an additional 229,886 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Relay Therapeutics by 39.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 9,720 shares of the company’s stock valued at $336,000 after purchasing an additional 2,750 shares in the last quarter. 90.70% of the stock is currently owned by institutional investors.

RLAY opened at $34.51 on Monday. Relay Therapeutics has a 12 month low of $26.44 and a 12 month high of $64.37. The company has a 50-day simple moving average of $33.63.

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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