Relay Therapeutics (NASDAQ:RLAY) CEO Sanjiv Patel Sells 48,199 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 48,199 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $18.94, for a total value of $912,889.06. Following the sale, the chief executive officer owned 519,500 shares of the company’s stock, valued at approximately $9,839,330. This represents a 8.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, July 7th, Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock. The shares were sold at an average price of $19.58, for a total value of $943,736.42.

Relay Therapeutics Trading Down 2.4%

Shares of NASDAQ:RLAY opened at $18.66 on Thursday. The company has a market capitalization of $4.09 billion, a PE ratio of -11.89 and a beta of 1.69. Relay Therapeutics, Inc. has a 12-month low of $3.87 and a 12-month high of $21.27. The business’s fifty day simple moving average is $19.37 and its 200-day simple moving average is $15.34.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The company had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $0.96 million. Research analysts predict that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new position in Relay Therapeutics in the 2nd quarter worth $286,042,000. Commodore Capital LP purchased a new stake in Relay Therapeutics during the 2nd quarter valued at about $46,191,000. Perceptive Advisors LLC increased its holdings in shares of Relay Therapeutics by 412.3% in the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after purchasing an additional 7,847,896 shares during the period. California State Teachers Retirement System increased its holdings in shares of Relay Therapeutics by 1,726.3% in the second quarter. California State Teachers Retirement System now owns 3,179,652 shares of the company’s stock valued at $59,491,000 after purchasing an additional 3,005,553 shares during the period. Finally, Spruce Street Capital LP purchased a new position in shares of Relay Therapeutics in the second quarter worth about $55,832,979. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Monday, July 6th. Wall Street Zen cut shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Canaccord Genuity Group assumed coverage on shares of Relay Therapeutics in a research note on Thursday, July 16th. They issued a “buy” rating and a $29.00 target price for the company. Barclays raised their target price on shares of Relay Therapeutics from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, UBS Group set a $26.00 price target on Relay Therapeutics in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

About Relay Therapeutics

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.