Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells 4,864 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 4,864 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $2.84, for a total value of $13,813.76. Following the completion of the transaction, the chief financial officer now directly owns 374,567 shares in the company, valued at $1,063,770.28. The trade was a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Thursday, January 30th, Thomas Catinazzo sold 20,791 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.42, for a total value of $91,896.22.
• 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 transaction of $166,846.68.

Relay Therapeutics Price Performance

Shares of Relay Therapeutics stock opened at $2.47 on Wednesday. The company’s fifty day moving average price is $3.76 and its two-hundred day moving average price is $4.89. The firm has a market capitalization of $418.72 million, a PE ratio of -0.95 and a beta of 1.65. Relay Therapeutics, Inc. has a 52-week low of $2.38 and a 52-week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.12. Analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group cut their target price on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a research note on Thursday, December 12th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a research report on Friday, March 7th. Leerink Partners reduced their price objective on 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, Stifel Nicolaus lowered their price objective on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.80.

Hedge Funds Weigh In On Relay Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in Relay Therapeutics by 28.8% during the fourth quarter. California State Teachers Retirement System now owns 106,287 shares of the company’s stock worth $438,000 after acquiring an additional 23,760 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Relay Therapeutics by 4.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 232,582 shares of the company’s stock worth $958,000 after purchasing an additional 9,293 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in Relay Therapeutics by 535.9% during the 4th quarter. Squarepoint Ops LLC now owns 162,588 shares of the company’s stock valued at $670,000 after purchasing an additional 137,020 shares during the last quarter. Twinbeech Capital LP acquired a new position in Relay Therapeutics in the fourth quarter valued at about $42,000. Finally, Two Sigma Advisers LP grew its stake in Relay Therapeutics by 4.0% during the fourth quarter. Two Sigma Advisers LP now owns 638,900 shares of the company’s stock worth $2,632,000 after buying an additional 24,700 shares during the last quarter. 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.