Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo Sells 6,802 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 6,802 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12. Following the sale, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at approximately $1,856,729.46. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Relay Therapeutics Trading Down 3.2 %

RLAY stock opened at $5.71 on Thursday. The firm has a 50 day simple moving average of $6.93 and a 200-day simple moving average of $7.03. The company has a market capitalization of $764.51 million, a P/E ratio of -2.27 and a beta of 1.64. Relay Therapeutics, Inc. has a twelve month low of $5.70 and a twelve month high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.73) by $0.04. During the same quarter in the prior year, the company earned ($0.81) EPS. On average, research analysts predict that Relay Therapeutics, Inc. will post -2.84 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on RLAY. Jefferies Financial Group upgraded Relay Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.60 to $16.00 in a research note on Tuesday, September 10th. JMP Securities reissued a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research report on Tuesday, September 17th. Bank of America increased their price objective 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. Stifel Nicolaus reissued a “buy” rating and set a $28.00 target price on shares of Relay Therapeutics in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research note on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.11.

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new stake in Relay Therapeutics during the second quarter valued at approximately $37,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Relay Therapeutics during the 1st quarter valued at approximately $79,000. Virtu Financial LLC bought a new position in Relay Therapeutics during the first quarter worth $87,000. Values First Advisors Inc. acquired a new position in Relay Therapeutics in the third quarter worth $75,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in Relay Therapeutics during the first quarter valued at $127,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

About Relay Therapeutics

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.