Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells 36,036 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 36,036 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $4.63, for a total value of $166,846.68. Following the transaction, the chief financial officer now directly owns 263,190 shares of the company’s stock, valued at $1,218,569.70. The trade was a 12.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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 value of $91,896.22.
• On Friday, December 27th, Thomas Catinazzo sold 4,865 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.42, for a total transaction of $21,503.30.

Relay Therapeutics Price Performance

NASDAQ RLAY traded up $0.06 on Thursday, hitting $4.54. 1,154,019 shares of the company’s stock were exchanged, compared to its average volume of 2,957,148. Relay Therapeutics, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $11.16. The firm’s 50-day moving average price is $4.53 and its two-hundred day moving average price is $6.12. The firm has a market cap of $759.92 million, a price-to-earnings ratio of -1.74 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.14. During the same period in the previous year, the business posted ($0.54) EPS. The company’s revenue was down 100.0% compared to the same quarter last year. On average, research analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Institutional Trading of Relay Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bellevue Group AG boosted its holdings in Relay Therapeutics by 15.7% in the 3rd quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock worth $52,230,000 after acquiring an additional 1,000,069 shares during the period. JPMorgan Chase & Co. boosted its position in shares of 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 buying an additional 1,554,115 shares during the period. State Street Corp grew its stake in shares of Relay Therapeutics by 1.2% in the third quarter. State Street Corp now owns 4,300,216 shares of the company’s stock worth $30,446,000 after purchasing an additional 51,810 shares in the last quarter. Braidwell LP increased its stake in Relay Therapeutics by 16.4% during the 3rd quarter. Braidwell LP now owns 3,499,427 shares of the company’s stock valued at $24,776,000 after buying an additional 492,628 shares during the period. Finally, Geode Capital Management LLC lifted its position in Relay Therapeutics by 15.5% in the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock worth $19,348,000 after purchasing an additional 367,473 shares during the period. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Leerink Partners reduced their price objective on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research report on Thursday, December 12th. Finally, HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Relay Therapeutics in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Relay Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

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.