Thomas Catinazzo Sells 4,865 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 4,865 shares of the company’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $4.42, for a total value of $21,503.30. Following the completion of the transaction, the chief financial officer now directly owns 299,226 shares of the company’s stock, valued at $1,322,578.92. The trade was a 1.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, October 28th, Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock. The stock was sold at an average price of $6.06, for a total value of $41,220.12.

Relay Therapeutics Price Performance

Shares of NASDAQ:RLAY traded down $0.06 during mid-day trading on Tuesday, reaching $4.12. 1,417,646 shares of the company were exchanged, compared to its average volume of 1,564,589. The firm has a market cap of $689.62 million, a price-to-earnings ratio of -1.58 and a beta of 1.59. Relay Therapeutics, Inc. has a 1 year low of $4.01 and a 1 year high of $12.14. The firm’s 50-day simple moving average is $5.14 and its 200 day simple moving average is $6.50.

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, topping the consensus estimate of ($0.77) by $0.14. The business’s quarterly revenue was down 100.0% on a year-over-year basis. During the same period last year, the business posted ($0.54) EPS. On average, research analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Relay Therapeutics

Several large investors have recently added to or reduced their stakes in RLAY. EverSource Wealth Advisors LLC purchased a new stake in shares of Relay Therapeutics during the second quarter worth $37,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Relay Therapeutics during the 3rd quarter worth about $63,000. Portland Investment Counsel Inc. acquired a new stake in Relay Therapeutics in the 3rd quarter valued at about $71,000. Values First Advisors Inc. purchased a new position in shares of Relay Therapeutics in the 3rd quarter valued at about $75,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Relay Therapeutics during the third quarter worth about $134,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RLAY has been the subject of several recent analyst reports. 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 report on Wednesday, December 4th. Jefferies Financial Group upgraded Relay Therapeutics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $10.60 to $16.00 in a report on Tuesday, September 10th. Barclays increased their price objective on Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a research note on Tuesday, September 10th. Oppenheimer lowered shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Finally, The Goldman Sachs Group started coverage on Relay Therapeutics in a report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 price target for the company. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Relay Therapeutics has an average rating of “Moderate Buy” and an average target price 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.