Q3 2024 EPS Estimates for Relay Therapeutics, Inc. (NASDAQ:RLAY) Lifted by Analyst

Relay Therapeutics, Inc. (NASDAQ:RLAY) – Equities research analysts at Leerink Partnrs upped their Q3 2024 earnings per share (EPS) estimates for shares of Relay Therapeutics in a report issued on Tuesday, September 10th. Leerink Partnrs analyst A. Berens now forecasts that the company will earn ($0.81) per share for the quarter, up from their prior forecast of ($0.85). The consensus estimate for Relay Therapeutics’ current full-year earnings is ($2.90) per share. Leerink Partnrs also issued estimates for Relay Therapeutics’ Q4 2024 earnings at ($0.82) EPS, FY2024 earnings at ($2.95) EPS, FY2025 earnings at ($2.98) EPS, FY2026 earnings at ($2.83) EPS and FY2027 earnings at ($2.71) EPS.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.69) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.73) by $0.04. During the same period in the previous year, the firm posted ($0.81) earnings per share.

Several other equities analysts have also recently commented on the company. Bank of America increased their target price on Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Jefferies Financial Group upgraded Relay Therapeutics from a “hold” rating to a “buy” rating and increased their target price for the company from $10.60 to $16.00 in a research note on Tuesday, September 10th. JMP Securities reduced their target price on Relay Therapeutics from $24.00 to $21.00 and set a “market outperform” rating for the company in a research note on Thursday, July 18th. The Goldman Sachs Group assumed coverage on Relay Therapeutics in a research note on Tuesday, September 10th. They set a “buy” rating and a $20.00 target price for the company. Finally, Barclays upped their price target on Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.22.

Relay Therapeutics Trading Down 0.3 %

Relay Therapeutics stock opened at $7.60 on Friday. The stock has a market cap of $1.01 billion, a P/E ratio of -2.88 and a beta of 1.64. The stock has a 50 day moving average of $7.54 and a 200-day moving average of $7.39. Relay Therapeutics has a 52 week low of $5.70 and a 52 week high of $12.14.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new position in shares of Relay Therapeutics in the 2nd quarter valued at $37,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Relay Therapeutics in the 1st quarter valued at $79,000. Virtu Financial LLC purchased a new stake in Relay Therapeutics in the 1st quarter worth about $87,000. Los Angeles Capital Management LLC grew its stake in Relay Therapeutics by 25.7% during the 1st quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock valued at $116,000 after acquiring an additional 2,850 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in Relay Therapeutics during the 4th quarter valued at about $126,000. Institutional investors own 96.98% of the company’s stock.

Insiders Place Their Bets

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 9,373 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $6.24, for a total value of $58,487.52. Following the sale, the chief financial officer now directly owns 330,430 shares of the company’s stock, valued at $2,061,883.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Relay Therapeutics news, CFO Thomas Catinazzo sold 9,373 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $6.24, for a total value of $58,487.52. Following the sale, the chief financial officer now directly owns 330,430 shares of the company’s stock, valued at $2,061,883.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjiv Patel sold 36,706 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $9.07, for a total value of $332,923.42. Following the transaction, the chief executive officer now directly owns 766,130 shares in the company, valued at $6,948,799.10. The disclosure for this sale can be found here. Insiders have sold 84,738 shares of company stock valued at $715,499 over the last three months. Company insiders own 4.32% 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.