Insider Selling: Relay Therapeutics (NASDAQ:RLAY) CFO Sells 17,717 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 17,717 shares of the business’s stock in a transaction on Monday, July 6th. The stock was sold at an average price of $18.69, for a total transaction of $331,130.73. Following the completion of the sale, the chief financial officer owned 159,744 shares in the company, valued at approximately $2,985,615.36. The trade was a 9.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, June 22nd, Thomas Catinazzo sold 187,163 shares of Relay Therapeutics stock. The shares were sold at an average price of $16.97, for a total value of $3,176,156.11.
• On Thursday, May 14th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The shares were sold at an average price of $12.86, for a total value of $227,840.62.
• On Tuesday, April 28th, Thomas Catinazzo sold 972 shares of Relay Therapeutics stock. The stock was sold at an average price of $14.79, for a total value of $14,375.88.
• On Thursday, April 9th, Thomas Catinazzo sold 1,800 shares of Relay Therapeutics stock. The stock was sold at an average price of $15.00, for a total value of $27,000.00.

Relay Therapeutics Stock Down 0.6%

Relay Therapeutics stock traded down $0.11 during midday trading on Wednesday, reaching $19.63. 4,272,836 shares of the stock traded hands, compared to its average volume of 3,411,490. The stock’s fifty day moving average is $14.91 and its 200-day moving average is $11.72. Relay Therapeutics, Inc. has a 12 month low of $3.03 and a 12 month high of $20.20. The stock has a market cap of $3.76 billion, a P/E ratio of -12.50 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.58 million. On average, equities analysts predict that Relay Therapeutics, Inc. will post -1.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RLAY shares. Barclays raised their target price on shares of Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Wells Fargo & Company increased their price objective on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. HC Wainwright lifted their price objective on shares of Relay Therapeutics from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. assumed coverage on shares of Relay Therapeutics in a report on Wednesday. They issued an “overweight” rating and a $28.00 target price on the stock. Finally, Guggenheim upped their target price on shares of Relay Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $23.73.

Hedge Funds Weigh In On Relay Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Torren Management LLC bought a new position in shares of Relay Therapeutics during the 4th quarter valued at approximately $30,000. KBC Group NV purchased a new position in Relay Therapeutics during the first quarter worth $34,000. Smartleaf Asset Management LLC increased its position in Relay Therapeutics by 288.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after acquiring an additional 3,287 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Relay Therapeutics during the fourth quarter valued at $46,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Relay Therapeutics in the second quarter valued at $49,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Company Profile

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.