FY2024 Earnings Estimate for RLAY Issued By Leerink Partnrs

Relay Therapeutics, Inc. (NASDAQ:RLAY) – Investment analysts at Leerink Partnrs upped their FY2024 earnings per share (EPS) estimates for shares of Relay Therapeutics in a report released on Wednesday, November 6th. Leerink Partnrs analyst A. Berens now forecasts that the company will post earnings of ($2.69) per share for the year, up from their prior forecast of ($2.95). The consensus estimate for Relay Therapeutics’ current full-year earnings is ($2.73) per share. Leerink Partnrs also issued estimates for Relay Therapeutics’ Q4 2024 earnings at ($0.74) EPS, FY2025 earnings at ($2.74) EPS, FY2026 earnings at ($2.60) EPS and FY2027 earnings at ($2.48) EPS.

RLAY has been the topic of a number of other reports. Bank of America lifted their price target on Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. HC Wainwright boosted their target price on Relay Therapeutics from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Financial Group upgraded Relay Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.60 to $16.00 in a research note on Tuesday, September 10th. The Goldman Sachs Group began coverage on Relay Therapeutics in a research note on Tuesday, September 10th. They set a “buy” rating and a $20.00 target price on the stock. Finally, Stifel Nicolaus restated a “buy” rating and set a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Relay Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $21.22.

Relay Therapeutics Stock Up 1.0 %

Shares of NASDAQ RLAY opened at $6.20 on Monday. Relay Therapeutics has a twelve month low of $5.60 and a twelve month high of $12.14. The business has a fifty day simple moving average of $6.79 and a two-hundred day simple moving average of $7.01. The firm has a market cap of $830.12 million, a PE ratio of -2.38 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. The company’s revenue was down 100.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.54) EPS.

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 6,802 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the sale, the chief financial officer now owns 306,391 shares in the company, valued at approximately $1,856,729.46. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.32% of the company’s stock.

Institutional Trading of Relay Therapeutics

Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its holdings in shares of Relay Therapeutics by 57.2% in the 1st quarter. Russell Investments Group Ltd. now owns 179,972 shares of the company’s stock valued at $1,494,000 after buying an additional 65,484 shares during the period. Logos Global Management LP acquired a new position in shares of Relay Therapeutics in the 2nd quarter valued at about $8,476,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Relay Therapeutics in the 1st quarter valued at about $79,000. Los Angeles Capital Management LLC lifted its holdings in shares of Relay Therapeutics by 661.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 106,169 shares of the company’s stock valued at $692,000 after buying an additional 92,230 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Relay Therapeutics by 19.1% in the 2nd quarter. Renaissance Technologies LLC now owns 909,037 shares of the company’s stock valued at $5,927,000 after buying an additional 145,837 shares during the period. Hedge funds and other institutional investors own 96.98% of the company’s stock.

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 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 Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors.