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

Analysts predict that Relay Therapeutics, Inc. (NASDAQ:RLAY) will report earnings of ($0.48) per share for the current fiscal quarter, Zacks reports. Zero analysts have made estimates for Relay Therapeutics’ earnings, with estimates ranging from ($0.50) to ($0.45). Relay Therapeutics posted earnings per share of ($6.06) during the same quarter last year, which indicates a positive year-over-year growth rate of 92.1%. The company is expected to issue its next quarterly earnings report 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 year, with EPS estimates ranging from ($2.04) to ($1.62). For the next financial year, analysts forecast that the firm will post earnings of ($1.74) per share, with EPS estimates ranging from ($2.09) to ($1.39). Zacks’ EPS calculations are an average based on a survey of research firms that that provide coverage for Relay Therapeutics.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Thursday, May 13th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.02.

Several equities research analysts recently issued reports on RLAY shares. JMP Securities increased their target price on shares of Relay Therapeutics from $50.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, March 29th. Zacks Investment Research raised shares of Relay Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, June 3rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $57.83.

In related news, General Counsel Brian Adams sold 6,500 shares of the firm’s stock in a transaction on Monday, April 26th. The shares were sold at an average price of $35.00, for a total value of $227,500.00. Following the completion of the transaction, the general counsel now directly owns 32,370 shares of the company’s stock, valued at $1,132,950. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Thomas Catinazzo sold 22,500 shares of the firm’s stock in a transaction on Monday, June 7th. The shares were sold at an average price of $35.00, for a total transaction of $787,500.00. Following the completion of the transaction, the senior vice president now directly owns 38,370 shares of the company’s stock, valued at $1,342,950. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,824 shares of company stock valued at $3,065,145. Insiders own 4.88% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Ratan Capital Management LP grew its holdings in shares of Relay Therapeutics by 50.0% in the first quarter. Ratan Capital Management LP now owns 105,000 shares of the company’s stock valued at $3,630,000 after purchasing an additional 35,000 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Relay Therapeutics by 27.0% in the first quarter. Principal Financial Group Inc. now owns 8,703 shares of the company’s stock valued at $301,000 after purchasing an additional 1,852 shares in the last quarter. Fiduciary Trust Co. purchased a new position in shares of Relay Therapeutics in the first quarter valued at $967,000. Voloridge Investment Management LLC purchased a new position in shares of Relay Therapeutics in the first quarter valued at $6,892,000. Finally, State of Wisconsin Investment Board grew its holdings in shares of Relay Therapeutics by 35.9% in the first quarter. State of Wisconsin Investment Board now owns 61,700 shares of the company’s stock valued at $2,133,000 after purchasing an additional 16,300 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Relay Therapeutics stock opened at $34.25 on Tuesday. The business has a 50 day moving average price of $32.32. Relay Therapeutics has a 12-month low of $26.44 and a 12-month high of $64.37.

About Relay Therapeutics

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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