Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells 20,791 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 20,791 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $4.42, for a total value of $91,896.22. Following the completion of the transaction, the chief financial officer now directly owns 379,431 shares in the company, valued at approximately $1,677,085.02. This represents a 5.19 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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.
• On Friday, December 27th, Thomas Catinazzo sold 4,865 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.42, for a total value of $21,503.30.

Relay Therapeutics Price Performance

NASDAQ:RLAY traded up $0.06 during mid-day trading on Thursday, reaching $4.54. 1,154,019 shares of the company’s stock traded hands, compared to its average volume of 2,957,148. The company has a 50 day moving average price of $4.53 and a 200-day moving average price of $6.12. The firm has a market capitalization of $759.92 million, a price-to-earnings ratio of -1.74 and a beta of 1.60. Relay Therapeutics, Inc. has a 12-month low of $3.50 and a 12-month high of $11.16.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Relay Therapeutics in the 3rd quarter worth about $63,000. Portland Investment Counsel Inc. bought a new position in Relay Therapeutics in the third quarter worth about $71,000. Values First Advisors Inc. purchased a new stake in Relay Therapeutics in the third quarter worth about $75,000. Savant Capital LLC bought a new stake in Relay Therapeutics during the 4th quarter valued at approximately $120,000. Finally, Point72 DIFC Ltd purchased a new position in shares of Relay Therapeutics during the 3rd quarter worth approximately $134,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on RLAY. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Relay Therapeutics in a research note on Tuesday, January 14th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a research report on Thursday, December 12th. Finally, Leerink Partners cut their price target 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. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.