FY2024 Earnings Estimate for RLAY Issued By Leerink Partnrs

Relay Therapeutics, Inc. (NASDAQ:RLAY) – Investment analysts at Leerink Partnrs raised their FY2024 earnings per share (EPS) estimates for shares of Relay Therapeutics in a research note issued on Tuesday, December 3rd. Leerink Partnrs analyst A. Berens now forecasts that the company will earn ($2.32) per share for the year, up from their prior forecast of ($2.69). The consensus estimate for Relay Therapeutics’ current full-year earnings is ($2.56) per share. Leerink Partnrs also issued estimates for Relay Therapeutics’ Q4 2024 earnings at ($0.39) EPS, FY2025 earnings at ($2.59) EPS, FY2026 earnings at ($2.17) EPS and FY2027 earnings at ($2.61) EPS.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.14. The firm’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.54) EPS.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price objective on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 price target on shares of Relay Therapeutics in a research report on Monday, September 16th. Oppenheimer lowered Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a report on Tuesday, September 17th. Finally, Bank of America lifted their target price on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Relay Therapeutics Stock Up 7.7 %

RLAY opened at $4.61 on Friday. The company’s 50-day moving average price is $5.78 and its two-hundred day moving average price is $6.78. Relay Therapeutics has a twelve month low of $4.25 and a twelve month high of $12.14. The stock has a market cap of $771.62 million, a price-to-earnings ratio of -1.77 and a beta of 1.59.

Hedge Funds Weigh In On Relay Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the business. Eventide Asset Management LLC bought a new stake in shares of Relay Therapeutics during the 3rd quarter valued at about $18,989,000. Walleye Capital LLC lifted its position in Relay Therapeutics by 6,659.2% during the third quarter. Walleye Capital LLC now owns 1,819,983 shares of the company’s stock valued at $12,885,000 after purchasing an additional 1,793,057 shares during the last quarter. Franklin Resources Inc. grew its stake in Relay Therapeutics by 3,883.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock worth $9,429,000 after buying an additional 1,361,779 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Relay Therapeutics in the 3rd quarter worth $9,554,000. Finally, Logos Global Management LP purchased a new stake in shares of Relay Therapeutics during the 2nd quarter valued at $8,476,000. 96.98% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.06, for a total value 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. This trade represents a 2.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.32% of the stock is owned by company insiders.

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.