Brokerages Expect Relay Therapeutics, Inc. (NASDAQ:RLAY) Will Announce Earnings of -$0.63 Per Share

Equities research analysts expect Relay Therapeutics, Inc. (NASDAQ:RLAYGet Rating) to report earnings per share of ($0.63) for the current quarter, Zacks reports. Zero analysts have made estimates for Relay Therapeutics’ earnings. The highest EPS estimate is ($0.63) and the lowest is ($0.64). Relay Therapeutics reported earnings of ($2.10) per share in the same quarter last year, which indicates a positive year-over-year growth rate of 70%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Relay Therapeutics will report full-year earnings of ($2.30) per share for the current fiscal year, with EPS estimates ranging from ($2.38) to ($2.22). For the next year, analysts anticipate that the firm will post earnings of ($2.41) per share, with EPS estimates ranging from ($2.90) to ($1.56). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Relay Therapeutics.

Relay Therapeutics (NASDAQ:RLAYGet Rating) last issued its earnings results on Thursday, May 5th. The company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.02. The company had revenue of $0.42 million during the quarter. Relay Therapeutics had a negative net margin of 15,373.96% and a negative return on equity of 40.49%. During the same quarter in the previous year, the firm posted ($0.47) EPS.

RLAY has been the subject of several research analyst reports. Berenberg Bank initiated coverage on shares of Relay Therapeutics in a report on Tuesday, February 1st. They issued a “buy” rating and a $45.00 price target for the company. JMP Securities decreased their price target on shares of Relay Therapeutics from $50.00 to $35.00 in a report on Monday, May 9th. HC Wainwright decreased their price target on shares of Relay Therapeutics from $54.00 to $47.00 in a report on Tuesday, May 10th. Finally, Zacks Investment Research lowered shares of Relay Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Relay Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $43.43.

In related news, insider Donald A. Bergstrom sold 10,000 shares of the company’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $25.00, for a total value of $250,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald A. Bergstrom sold 22,994 shares of the company’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $20.94, for a total transaction of $481,494.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 126,392 shares of company stock valued at $3,463,585. Company insiders own 4.43% of the company’s stock.

A number of large investors have recently modified their holdings of the business. State Board of Administration of Florida Retirement System lifted its position in Relay Therapeutics by 2.1% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 14,426 shares of the company’s stock worth $455,000 after buying an additional 300 shares in the last quarter. Principal Financial Group Inc. lifted its position in Relay Therapeutics by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 30,176 shares of the company’s stock worth $952,000 after buying an additional 326 shares in the last quarter. Royal Bank of Canada lifted its position in Relay Therapeutics by 10.3% during the 2nd quarter. Royal Bank of Canada now owns 4,153 shares of the company’s stock worth $152,000 after buying an additional 388 shares in the last quarter. New York State Common Retirement Fund lifted its position in Relay Therapeutics by 1.1% during the 4th quarter. New York State Common Retirement Fund now owns 43,692 shares of the company’s stock worth $1,342,000 after buying an additional 492 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in Relay Therapeutics by 2.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 30,400 shares of the company’s stock worth $918,000 after buying an additional 700 shares in the last quarter.

Shares of Relay Therapeutics stock opened at $17.58 on Friday. The firm has a fifty day moving average of $26.73 and a two-hundred day moving average of $27.29. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of -4.45 and a beta of 1.73. Relay Therapeutics has a 52 week low of $14.37 and a 52 week high of $38.60.

Relay Therapeutics Company Profile (Get Rating)

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 and genetic disease indications. The company's lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and 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.

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