Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells 4,864 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 4,864 shares of the business’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $2.84, for a total value of $13,813.76. Following the transaction, the chief financial officer now owns 374,567 shares in the company, valued at approximately $1,063,770.28. This represents a 1.28 % decrease in their position. The sale 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 Thursday, January 30th, Thomas Catinazzo sold 20,791 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.42, for a total value of $91,896.22.
• 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.

Relay Therapeutics Stock Up 0.8 %

NASDAQ:RLAY opened at $2.49 on Thursday. The company has a market cap of $422.11 million, a PE ratio of -0.95 and a beta of 1.65. The business’s 50 day moving average is $3.71 and its two-hundred day moving average is $4.87. Relay Therapeutics, Inc. has a 52 week low of $2.36 and a 52 week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.57) by $0.12. As a group, sell-side analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RLAY. HC Wainwright reissued a “buy” rating and set a $16.00 target price on shares of Relay Therapeutics in a research report on Friday, March 7th. Stifel Nicolaus cut their price objective on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Leerink Partners lowered their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. The Goldman Sachs Group cut their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Relay Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.80.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Relay Therapeutics by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company’s stock worth $61,924,000 after acquiring an additional 566,595 shares during the period. Tang Capital Management LLC grew its holdings in shares of Relay Therapeutics by 126.1% during the fourth quarter. Tang Capital Management LLC now owns 8,068,058 shares of the company’s stock valued at $33,240,000 after purchasing an additional 4,500,000 shares during the last quarter. Bellevue Group AG raised its position 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 purchasing an additional 1,000,069 shares during the period. Norges Bank bought a new stake in shares of Relay Therapeutics in the 4th quarter worth approximately $23,821,000. Finally, JPMorgan Chase & Co. boosted its position in Relay Therapeutics by 39.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after purchasing an additional 1,554,115 shares during the period. 96.98% of the stock is currently owned by institutional investors.

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.