Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sells $600,000.00 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 125,000 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $4.80, for a total transaction of $600,000.00. Following the completion of the sale, the chief executive officer now owns 324,548 shares of the company’s stock, valued at $1,557,830.40. This trade represents a 27.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, December 16th, Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock. The stock was sold at an average price of $5.00, for a total transaction of $500,000.00.

Relay Therapeutics Stock Performance

Shares of RLAY traded down $0.03 during trading hours on Thursday, hitting $4.89. The stock had a trading volume of 2,403,367 shares, compared to its average volume of 3,261,419. The firm has a 50-day moving average price of $4.56 and a 200 day moving average price of $6.21. Relay Therapeutics, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $11.16. The firm has a market capitalization of $818.49 million, a price-to-earnings ratio of -1.87 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. During the same period in the previous year, the business posted ($0.54) EPS. The company’s revenue for the quarter was down 100.0% compared to the same quarter last year. As a group, analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds have recently made changes to their positions in the company. Eventide Asset Management LLC acquired a new stake in Relay Therapeutics in the 3rd quarter valued at about $18,989,000. Walleye Capital LLC increased its holdings in shares of Relay Therapeutics by 6,659.2% in the third quarter. Walleye Capital LLC now owns 1,819,983 shares of the company’s stock valued at $12,885,000 after purchasing an additional 1,793,057 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Relay Therapeutics by 39.2% during the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock worth $39,064,000 after buying an additional 1,554,115 shares in the last quarter. Franklin Resources Inc. boosted its stake in Relay Therapeutics by 3,883.8% during the third 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 during the last quarter. Finally, Point72 Asset Management L.P. purchased a new stake in Relay Therapeutics in the 3rd quarter valued at $9,554,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on RLAY. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Relay Therapeutics in a research report on Tuesday, January 14th. Leerink Partners decreased their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

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.