Leerink Partnrs Comments on Relay Therapeutics, Inc.’s Q2 2024 Earnings (NASDAQ:RLAY)

Relay Therapeutics, Inc. (NASDAQ:RLAYFree Report) – Analysts at Leerink Partnrs issued their Q2 2024 EPS estimates for shares of Relay Therapeutics in a report issued on Sunday, March 17th. Leerink Partnrs analyst A. Berens anticipates that the company will post earnings of ($0.64) per share for the quarter. Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for Relay Therapeutics’ current full-year earnings is ($2.86) per share. Leerink Partnrs also issued estimates for Relay Therapeutics’ Q4 2024 earnings at ($0.59) EPS.

RLAY has been the topic of several other reports. Stifel Nicolaus boosted their price objective on shares of Relay Therapeutics from $25.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. HC Wainwright lowered their price objective on shares of Relay Therapeutics from $19.00 to $17.00 and set a “buy” rating on the stock in a research note on Monday, December 11th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $23.69.

Read Our Latest Stock Report on Relay Therapeutics

Relay Therapeutics Price Performance

RLAY stock traded up $0.29 during midday trading on Tuesday, hitting $7.79. The company’s stock had a trading volume of 1,431,553 shares, compared to its average volume of 1,089,318. Relay Therapeutics has a twelve month low of $5.95 and a twelve month high of $19.23. The company’s fifty day moving average price is $9.90 and its 200 day moving average price is $9.24. The stock has a market capitalization of $1.02 billion, a P/E ratio of -2.78 and a beta of 1.66.

Relay Therapeutics (NASDAQ:RLAYGet Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported ($0.67) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.09. Relay Therapeutics had a negative net margin of 1,263.49% and a negative return on equity of 42.43%. During the same period last year, the company posted ($0.56) EPS.

Institutional Trading of Relay Therapeutics

A number of institutional investors have recently bought and sold shares of RLAY. Metropolitan Life Insurance Co NY lifted its holdings in shares of Relay Therapeutics by 15.5% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 5,264 shares of the company’s stock worth $79,000 after acquiring an additional 706 shares during the period. Great West Life Assurance Co. Can lifted its holdings in shares of Relay Therapeutics by 48.9% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,494 shares of the company’s stock worth $79,000 after acquiring an additional 819 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of Relay Therapeutics by 12.7% during the 1st quarter. Vontobel Holding Ltd. now owns 7,413 shares of the company’s stock worth $222,000 after acquiring an additional 833 shares during the period. Royal Bank of Canada lifted its holdings in shares of Relay Therapeutics by 198.6% during the 3rd quarter. Royal Bank of Canada now owns 1,287 shares of the company’s stock worth $29,000 after acquiring an additional 856 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Relay Therapeutics by 12.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,897 shares of the company’s stock worth $149,000 after acquiring an additional 1,010 shares during the period.

Relay Therapeutics Company Profile

(Get Free Report)

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.

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Earnings History and Estimates for Relay Therapeutics (NASDAQ:RLAY)

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