Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells 4,865 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 4,865 shares of the stock in a transaction 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 sale, the chief financial officer now owns 299,226 shares in the company, valued at approximately $1,322,578.92. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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 Stock Performance

Shares of Relay Therapeutics stock opened at $4.12 on Thursday. The stock has a market cap of $689.62 million, a P/E ratio of -1.58 and a beta of 1.59. The stock’s fifty day moving average is $5.00 and its 200 day moving average is $6.44. Relay Therapeutics, Inc. has a one year low of $4.01 and a one year high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data 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 prior year, the company posted ($0.54) earnings per share. The firm’s revenue for the quarter was down 100.0% compared to the same quarter last year. Analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RLAY. Eventide Asset Management LLC bought a new position in shares of Relay Therapeutics in the third quarter worth approximately $18,989,000. Walleye Capital LLC lifted its stake in shares of Relay Therapeutics by 6,659.2% during the 3rd quarter. Walleye Capital LLC now owns 1,819,983 shares of the company’s stock valued at $12,885,000 after buying an additional 1,793,057 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Relay Therapeutics by 39.2% in the 3rd 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. Franklin Resources Inc. increased its stake in Relay Therapeutics by 3,883.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock worth $9,429,000 after buying an additional 1,361,779 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Relay Therapeutics during the third quarter valued at about $9,554,000. Institutional investors own 96.98% of the company’s stock.

Analysts Set New Price Targets

RLAY has been the subject of a number of recent analyst reports. Barclays boosted their target price on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. 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. Oppenheimer cut shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. HC Wainwright decreased 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 note on Wednesday, December 4th. Finally, The Goldman Sachs Group initiated coverage on Relay Therapeutics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.