Sanjiv Patel Sells 125,000 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

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

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 value of $500,000.00.

Relay Therapeutics Price Performance

NASDAQ:RLAY opened at $4.85 on Friday. The business’s 50-day moving average is $4.55 and its two-hundred day moving average is $6.20. The firm has a market capitalization of $811.79 million, a PE ratio of -1.86 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 announced its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.14. The business’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.54) EPS. Equities analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new stake in Relay Therapeutics during the 2nd quarter valued at $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Relay Therapeutics during the third quarter valued at about $63,000. Portland Investment Counsel Inc. purchased a new stake in shares of Relay Therapeutics during the third quarter worth about $71,000. Values First Advisors Inc. acquired a new position in shares of Relay Therapeutics in the third quarter worth about $75,000. Finally, Point72 DIFC Ltd purchased a new position in Relay Therapeutics in the third quarter valued at about $134,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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