Published on 15 Feb 2024 on Zacks via Yahoo Finance
Relay Therapeutics, Inc. (RLAY) Moves 10.0% Higher: Will This Strength Last?
Relay Therapeutics, Inc. (RLAY) shares rallied 10% in the last trading session to close at $9.89. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 17.2% loss over the past four weeks.
The sudden surge in the stock price can be attributed to positive investor mindset regarding the company's pipeline progress. Relay Therapeutics is leveraging its Dynamo platform to initially focus on precision oncology. The company has several candidates currently undergoing early stage development for various cancer indications.
This company is expected to post quarterly loss of $0.71 per share in its upcoming report, which represents a year-over-year change of -26.8%. Revenues are expected to be $1.45 million, up 480% from the year-ago quarter.