Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells 36,036 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CFO Thomas Catinazzo sold 36,036 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $4.63, for a total transaction of $166,846.68. Following the completion of the transaction, the chief financial officer now directly owns 263,190 shares in the company, valued at $1,218,569.70. This trade represents a 12.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 transaction of $91,896.22.
• On Friday, December 27th, Thomas Catinazzo sold 4,865 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.42, for a total transaction of $21,503.30.

Relay Therapeutics Stock Performance

RLAY traded up $0.03 on Monday, hitting $4.50. 924,807 shares of the company were exchanged, compared to its average volume of 2,753,794. The business's fifty day moving average is $4.52 and its 200 day moving average is $6.05. Relay Therapeutics, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $11.16. The firm has a market capitalization of $753.38 million, a P/E ratio of -1.72 and a beta of 1.61.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.14. The company's revenue for the quarter was down 100.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.54) earnings per share. Analysts forecast that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Eventide Asset Management LLC purchased a new position in Relay Therapeutics in the 3rd quarter valued at about $18,989,000. Walleye Capital LLC lifted its stake in shares of Relay Therapeutics by 6,659.2% during the third quarter. Walleye Capital LLC now owns 1,819,983 shares of the company's stock valued at $12,885,000 after buying an additional 1,793,057 shares during the period. JPMorgan Chase & Co. boosted its position in Relay Therapeutics by 39.2% during the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company's stock worth $39,064,000 after acquiring an additional 1,554,115 shares during the last quarter. Franklin Resources Inc. grew its stake in Relay Therapeutics by 3,883.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company's stock worth $9,429,000 after acquiring an additional 1,361,779 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in Relay Therapeutics in the 3rd quarter valued at $9,554,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RLAY has been the subject of several recent research reports. JMP Securities reiterated a "market outperform" rating and set a $21.00 target price on shares of Relay Therapeutics in a research note on Thursday, December 12th. Leerink Partners decreased 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, HC Wainwright reissued a "buy" rating and issued a $16.00 target price on shares of Relay Therapeutics in a report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.