Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sells 100,000 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 100,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $5.00, for a total value of $500,000.00. Following the sale, the chief executive officer now owns 574,548 shares of the company’s stock, valued at approximately $2,872,740. This trade represents a 14.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Relay Therapeutics Stock Up 1.4 %

Relay Therapeutics stock opened at $4.26 on Friday. The business has a 50 day moving average price of $5.43 and a two-hundred day moving average price of $6.64. Relay Therapeutics, Inc. has a 12 month low of $4.11 and a 12 month high of $12.14. The stock has a market cap of $713.05 million, a price-to-earnings ratio of -1.63 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. During the same period last year, the business earned ($0.54) earnings per share. Relay Therapeutics’s quarterly revenue was down 100.0% on a year-over-year basis. On average, analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on RLAY. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a research report on Thursday, December 12th. Bank of America upped their price objective on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Leerink Partners dropped their target price 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. HC Wainwright cut their target price on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the company from $10.60 to $16.00 in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in RLAY. EverSource Wealth Advisors LLC bought a new stake in Relay Therapeutics in the second quarter valued at about $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Relay Therapeutics during the third quarter valued at approximately $63,000. Portland Investment Counsel Inc. bought a new stake in shares of Relay Therapeutics in the 3rd quarter valued at approximately $71,000. Values First Advisors Inc. acquired a new position in shares of Relay Therapeutics in the 3rd quarter worth approximately $75,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Relay Therapeutics in the 3rd quarter worth approximately $134,000. 96.98% of the stock is owned by institutional investors.

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.