Relay Therapeutics (NASDAQ:RLAY) Issues Earnings Results

Relay Therapeutics (NASDAQ:RLAY) released its quarterly earnings data on Thursday. The company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.08, Briefing.com reports. Relay Therapeutics had a negative return on equity of 42.19% and a negative net margin of 1,263.49%. The company had revenue of $10.01 million for the quarter, compared to analyst estimates of $0.12 million. During the same period in the prior year, the company posted ($0.78) EPS. The company’s revenue was up 4327.9% compared to the same quarter last year.

Relay Therapeutics Trading Down 0.6 %

Shares of Relay Therapeutics stock traded down $0.04 during trading on Friday, reaching $7.04. The company’s stock had a trading volume of 1,167,807 shares, compared to its average volume of 1,233,270. Relay Therapeutics has a one year low of $5.70 and a one year high of $13.32. The stock has a 50-day moving average price of $7.86 and a two-hundred day moving average price of $8.78. The stock has a market capitalization of $931.67 million, a P/E ratio of -2.67 and a beta of 1.68.

Analyst Upgrades and Downgrades

Several analysts recently commented on RLAY shares. Leerink Partnrs reaffirmed an “outperform” rating on shares of Relay Therapeutics in a research note on Thursday, February 22nd. Stifel Nicolaus upped their target price on shares of Relay Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $26.00.

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.