Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells 20,791 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 20,791 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $4.42, for a total transaction of $91,896.22. Following the completion of the sale, the chief financial officer now owns 379,431 shares of the company’s stock, valued at approximately $1,677,085.02. This represents a 5.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, January 28th, Thomas Catinazzo sold 36,036 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.63, for a total value of $166,846.68.
• On Friday, December 27th, Thomas Catinazzo sold 4,865 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.42, for a total transaction of $21,503.30.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY opened at $4.54 on Friday. Relay Therapeutics, Inc. has a 1-year low of $3.50 and a 1-year high of $11.16. The stock’s fifty day simple moving average is $4.53 and its two-hundred day simple moving average is $6.12.

Relay Therapeutics (NASDAQ:RLAY) last posted 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. The firm’s revenue was down 100.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.54) earnings per share. As a group, research 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 recently commented on RLAY. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, January 14th. Leerink Partners decreased their price objective 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. Finally, JMP Securities restated a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors have recently added to or reduced their stakes in RLAY. Eventide Asset Management LLC purchased a new position in Relay Therapeutics during the 3rd quarter valued at about $18,989,000. Walleye Capital LLC grew its position in Relay Therapeutics by 6,659.2% during the third quarter. Walleye Capital LLC now owns 1,819,983 shares of the company’s stock worth $12,885,000 after buying an additional 1,793,057 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Relay Therapeutics by 39.2% in the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock worth $39,064,000 after purchasing an additional 1,554,115 shares during the last quarter. Franklin Resources Inc. grew 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 position in shares of Relay Therapeutics in the 3rd quarter worth $9,554,000. 96.98% of the stock is owned by hedge funds and other 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.