Relay Therapeutics (RLAY) Projected to Post Quarterly Earnings on Thursday

Relay Therapeutics (NASDAQ:RLAY) is anticipated to announce its earnings results before the market opens on Thursday, February 27th. Analysts expect the company to announce earnings of ($0.60) per share and revenue of $6.08 million for the quarter.

Relay Therapeutics Trading Up 6.1 %

NASDAQ:RLAY opened at $4.16 on Thursday. Relay Therapeutics has a twelve month low of $3.50 and a twelve month high of $11.07. The company has a 50-day moving average of $4.40 and a 200-day moving average of $5.66. The firm has a market cap of $696.30 million, a price-to-earnings ratio of -1.59 and a beta of 1.61.

Insiders Place Their Bets

In other news, CEO Sanjiv Patel sold 125,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $4.80, for a total transaction of $600,000.00. Following the transaction, the chief executive officer now directly owns 324,548 shares in the company, valued at $1,557,830.40. The trade was a 27.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Peter Rahmer sold 32,156 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $4.15, for a total transaction of $133,447.40. Following the transaction, the insider now owns 357,507 shares in the company, valued at approximately $1,483,654.05. This represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 570,152 shares of company stock worth $2,491,157. Corporate insiders own 4.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on RLAY shares. HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, January 14th. Leerink Partners decreased their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. Finally, JMP Securities reissued a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a research report on Thursday, December 12th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.50.

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.