Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells 6,802 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 6,802 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $6.06, for a total transaction of $41,220.12. Following the transaction, the chief financial officer now owns 306,391 shares in the company, valued at approximately $1,856,729.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Relay Therapeutics Stock Performance

RLAY traded down $0.19 during trading on Wednesday, hitting $5.71. The stock had a trading volume of 1,026,401 shares, compared to its average volume of 1,451,596. The company has a market capitalization of $764.51 million, a PE ratio of -2.27 and a beta of 1.64. Relay Therapeutics, Inc. has a twelve month low of $5.70 and a twelve month high of $12.14. The stock has a 50 day simple moving average of $6.96 and a two-hundred day simple moving average of $7.03.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same quarter last year, the company earned ($0.81) EPS. On average, equities research analysts anticipate that Relay Therapeutics, Inc. will post -2.84 EPS for the current year.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Relay Therapeutics by 10.9% during the first quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock worth $98,070,000 after buying an additional 1,165,282 shares during the period. Logos Global Management LP acquired a new stake in shares of Relay Therapeutics during the second quarter worth $8,476,000. Millennium Management LLC lifted its stake in shares of Relay Therapeutics by 404.2% during the second quarter. Millennium Management LLC now owns 1,149,177 shares of the company’s stock worth $7,493,000 after buying an additional 921,271 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Relay Therapeutics by 19.1% during the second quarter. Renaissance Technologies LLC now owns 909,037 shares of the company’s stock worth $5,927,000 after purchasing an additional 145,837 shares during the last quarter. Finally, Integral Health Asset Management LLC raised its holdings in shares of Relay Therapeutics by 3.4% during the second quarter. Integral Health Asset Management LLC now owns 750,000 shares of the company’s stock worth $4,890,000 after purchasing an additional 25,000 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RLAY shares. HC Wainwright reiterated a “buy” rating and set a $19.00 price objective on shares of Relay Therapeutics in a research note on Monday, October 14th. Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.60 to $16.00 in a research note on Tuesday, September 10th. JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, September 17th. Oppenheimer downgraded shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $28.00 price objective on shares of Relay Therapeutics in a research note on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.11.

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.