Sanjiv Patel Sells 140,182 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 140,182 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total transaction of $539,700.70. Following the completion of the sale, the chief executive officer now owns 625,948 shares in the company, valued at approximately $2,409,899.80. This trade represents a 18.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, February 13th, Sanjiv Patel sold 75,324 shares of Relay Therapeutics stock. The stock was sold at an average price of $3.70, for a total value of $278,698.80.
• On Wednesday, January 22nd, Sanjiv Patel sold 125,000 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.80, for a total transaction of $600,000.00.
• 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 Price Performance

Shares of RLAY opened at $4.00 on Friday. The business’s 50-day moving average is $4.45 and its 200-day moving average is $5.79. Relay Therapeutics, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $11.16. The company has a market capitalization of $669.52 million, a price-to-earnings ratio of -1.53 and a beta of 1.61.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds have recently added to or reduced their stakes in RLAY. Steward Partners Investment Advisory LLC increased its holdings in Relay Therapeutics by 160.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock worth $27,000 after buying an additional 4,000 shares during the last quarter. Stifel Financial Corp acquired a new position in Relay Therapeutics in the fourth quarter worth approximately $42,000. Cibc World Markets Corp acquired a new position in Relay Therapeutics in the fourth quarter worth approximately $47,000. Ameritas Investment Partners Inc. increased its holdings in Relay Therapeutics by 41.9% in the fourth quarter. Ameritas Investment Partners Inc. now owns 12,730 shares of the company’s stock worth $52,000 after buying an additional 3,760 shares during the last quarter. Finally, Virtus ETF Advisers LLC increased its holdings in Relay Therapeutics by 26.2% in the fourth quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company’s stock worth $61,000 after buying an additional 3,092 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on RLAY shares. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, January 14th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. Finally, Leerink Partners reduced 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. 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 currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Relay Therapeutics Company Profile

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.