Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells 4,864 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 4,864 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $2.84, for a total value of $13,813.76. Following the sale, the chief financial officer now owns 374,567 shares in the company, valued at approximately $1,063,770.28. The trade was a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Thomas Catinazzo also recently made the following trade(s):

• On Thursday, January 30th, Thomas Catinazzo sold 20,791 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.42, for a total transaction of $91,896.22.
• On Tuesday, January 28th, Thomas Catinazzo sold 36,036 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.63, for a total value of $166,846.68.

Relay Therapeutics Stock Performance

Relay Therapeutics stock traded down $0.10 during trading hours on Monday, hitting $2.62. 2,950,837 shares of the stock were exchanged, compared to its average volume of 1,868,152. The stock has a market capitalization of $444.15 million, a P/E ratio of -1.00 and a beta of 1.65. Relay Therapeutics, Inc. has a 12 month low of $2.47 and a 12 month high of $10.72. The business’s 50-day moving average is $3.84 and its two-hundred day moving average is $4.96.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.12. On average, equities analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on RLAY. HC Wainwright reiterated a “buy” rating and set a $16.00 target price on shares of Relay Therapeutics in a report on Friday, March 7th. The Goldman Sachs Group decreased their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a report on Thursday, December 12th. Leerink Partners dropped their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus cut their price objective on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.80.

Institutional Investors Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of RLAY. Charles Schwab Investment Management Inc. boosted its position in Relay Therapeutics by 26.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock valued at $7,333,000 after purchasing an additional 214,398 shares during the last quarter. Maven Securities LTD bought a new position in shares of Relay Therapeutics in the third quarter valued at $2,389,000. Geode Capital Management LLC increased its holdings in Relay Therapeutics by 15.5% during the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock worth $19,348,000 after buying an additional 367,473 shares during the last quarter. JPMorgan Chase & Co. raised its position in Relay Therapeutics by 39.2% during the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock worth $39,064,000 after acquiring an additional 1,554,115 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Relay Therapeutics by 3,883.8% in the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock valued at $9,429,000 after acquiring an additional 1,361,779 shares during the last quarter. 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.