FY2024 Earnings Forecast for RLAY Issued By Leerink Partnrs

Relay Therapeutics, Inc. (NASDAQ:RLAY) – Equities researchers at Leerink Partnrs boosted their FY2024 earnings estimates for Relay Therapeutics in a report released on Wednesday, November 6th. Leerink Partnrs analyst A. Berens now expects that the company will earn ($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.

Several other equities research analysts have also recently issued reports on RLAY. Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. Bank of America lifted their price target on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. lowered their price objective on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Oppenheimer downgraded Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. Finally, HC Wainwright increased their price target on Relay Therapeutics from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Relay Therapeutics currently has an average rating of “Moderate Buy” and an average target price of $21.22.

Relay Therapeutics Stock Down 3.6 %

Shares of NASDAQ:RLAY opened at $5.94 on Monday. Relay Therapeutics has a 52-week low of $5.60 and a 52-week high of $12.14. The business has a fifty day moving average of $6.78 and a two-hundred day moving average of $7.02. The stock has a market cap of $795.31 million, a P/E ratio of -2.28 and a beta of 1.67.

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

Insider Activity at Relay Therapeutics

In related news, CFO Thomas Catinazzo sold 6,802 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 306,391 shares in the company, valued at $1,856,729.46. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 4.32% of the company’s stock.

Institutional Trading of Relay Therapeutics

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC acquired a new position in shares of Relay Therapeutics in the second quarter valued at approximately $37,000. Values First Advisors Inc. purchased a new stake in shares of Relay Therapeutics during the third quarter worth $75,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Relay Therapeutics during the first quarter worth $79,000. Virtu Financial LLC acquired a new stake in shares of Relay Therapeutics in the first quarter valued at $87,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Relay Therapeutics in the first quarter valued at $127,000. Institutional investors and hedge funds 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.