Insider Selling: 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 the firm’s 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 sale, the chief executive officer now directly owns 324,548 shares of the company’s stock, valued at approximately $1,557,830.40. This trade represents a 27.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

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

Relay Therapeutics Stock Down 0.6 %

RLAY stock traded down $0.03 during midday trading on Thursday, hitting $4.89. The company’s stock had a trading volume of 2,403,367 shares, compared to its average volume of 3,261,419. The firm has a market capitalization of $818.49 million, a price-to-earnings ratio of -1.87 and a beta of 1.60. The company has a 50 day moving average of $4.56 and a two-hundred day moving average of $6.21. Relay Therapeutics, Inc. has a 12 month low of $3.50 and a 12 month high of $11.16.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results 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. During the same quarter in the prior year, the firm posted ($0.54) earnings per share. Relay Therapeutics’s revenue was down 100.0% on a year-over-year basis. On average, analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

Institutional Trading of Relay Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bellevue Group AG grew its stake in Relay Therapeutics by 15.7% in the 3rd quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock worth $52,230,000 after acquiring an additional 1,000,069 shares in the last quarter. JPMorgan Chase & Co. grew its stake in 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 in the last quarter. State Street Corp increased its stake in shares of Relay Therapeutics by 1.2% during the third quarter. State Street Corp now owns 4,300,216 shares of the company’s stock valued at $30,446,000 after buying an additional 51,810 shares during the period. Braidwell LP increased its position in Relay Therapeutics by 16.4% during the 3rd quarter. Braidwell LP now owns 3,499,427 shares of the company’s stock valued at $24,776,000 after purchasing an additional 492,628 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Relay Therapeutics by 15.5% during the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock valued at $19,348,000 after purchasing an additional 367,473 shares in the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

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.