Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells $21,503.30 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 4,865 shares of the business’s stock in a transaction that occurred on Friday, December 27th. The shares were sold at an average price of $4.42, for a total value of $21,503.30. Following the transaction, the chief financial officer now owns 299,226 shares of the company’s stock, valued at $1,322,578.92. This represents a 1.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, October 28th, Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock. The shares were sold at an average price of $6.06, for a total value of $41,220.12.

Relay Therapeutics Price Performance

RLAY opened at $4.30 on Friday. The business has a 50 day moving average price of $5.00 and a two-hundred day moving average price of $6.44. The company has a market capitalization of $719.75 million, a price-to-earnings ratio of -1.65 and a beta of 1.59. Relay Therapeutics, Inc. has a 1-year low of $4.01 and a 1-year high of $12.14.

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

Analyst Ratings Changes

RLAY has been the subject of several recent research reports. Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and upped their price target for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. Barclays upped their target price on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 price target on shares of Relay Therapeutics in a report on Monday, September 16th. JMP Securities reissued a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, The Goldman Sachs Group started coverage on Relay Therapeutics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Hedge Funds Weigh In On Relay Therapeutics

Several large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in Relay Therapeutics by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 354,667 shares of the company’s stock valued at $2,312,000 after purchasing an additional 48,219 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Relay Therapeutics by 304.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 38,656 shares of the company’s stock valued at $252,000 after acquiring an additional 29,087 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Relay Therapeutics by 4.8% during the 2nd quarter. Rhumbline Advisers now owns 163,895 shares of the company’s stock worth $1,069,000 after acquiring an additional 7,508 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Relay Therapeutics by 11.2% during the 2nd quarter. Victory Capital Management Inc. now owns 76,539 shares of the company’s stock worth $499,000 after acquiring an additional 7,680 shares in the last quarter. Finally, Candriam S.C.A. grew its holdings in shares of Relay Therapeutics by 38.4% in the 2nd quarter. Candriam S.C.A. now owns 703,429 shares of the company’s stock worth $4,586,000 after acquiring an additional 195,000 shares during the last quarter. Institutional investors 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.