Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel Sells 125,000 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 125,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $4.80, for a total value of $600,000.00. Following the completion of the sale, the chief executive officer now directly owns 324,548 shares in the company, valued at $1,557,830.40. This trade represents a 27.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Sanjiv Patel also recently made the following trade(s):

• On Monday, December 16th, Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock. The stock was sold at an average price of $5.00, for a total value of $500,000.00.

Relay Therapeutics Trading Down 0.6 %

NASDAQ RLAY opened at $4.89 on Friday. The business’s 50-day moving average price is $4.56 and its 200 day moving average price is $6.21. Relay Therapeutics, Inc. has a twelve month low of $3.50 and a twelve month high of $11.16.

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, topping the consensus estimate of ($0.77) by $0.14. During the same quarter in the previous year, the business earned ($0.54) EPS. The business’s quarterly revenue was down 100.0% compared to the same quarter last year. As a group, research analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Hedge Funds Weigh In On Relay Therapeutics

A number of large investors have recently bought and sold shares of the stock. Bellevue Group AG increased its holdings in shares of Relay Therapeutics by 15.7% during the 3rd quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock worth $52,230,000 after buying an additional 1,000,069 shares during the last quarter. JPMorgan Chase & Co. grew 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 valued at $39,064,000 after acquiring an additional 1,554,115 shares during the period. State Street Corp increased its stake in Relay Therapeutics by 1.2% during the third quarter. State Street Corp now owns 4,300,216 shares of the company’s stock worth $30,446,000 after acquiring an additional 51,810 shares during the last quarter. Braidwell LP raised its holdings in shares of Relay Therapeutics by 16.4% in the 3rd quarter. Braidwell LP now owns 3,499,427 shares of the company’s stock worth $24,776,000 after purchasing an additional 492,628 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Relay Therapeutics by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock valued at $19,348,000 after purchasing an additional 367,473 shares in the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on RLAY shares. Leerink Partners dropped their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. HC Wainwright reissued a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, January 14th. Finally, JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock 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.