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

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CFO Thomas Catinazzo sold 4,864 shares of the business'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 transaction, the chief financial officer now owns 374,567 shares of the company's stock, valued at approximately $1,063,770.28. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 transaction 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 value of $166,846.68.

Relay Therapeutics Stock Up 1.6 %

RLAY traded up $0.04 on Wednesday, hitting $2.51. The company had a trading volume of 908,295 shares, compared to its average volume of 1,872,351. The business's fifty day simple moving average is $3.76 and its 200 day simple moving average is $4.89. Relay Therapeutics, Inc. has a 12-month low of $2.38 and a 12-month high of $10.72. The company has a market cap of $425.50 million, a PE ratio of -0.96 and a beta of 1.65.

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Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.12. On average, analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RLAY has been the subject of a number of recent analyst reports. Leerink Partners dropped their price objective on Relay Therapeutics from $19.00 to $18.00 and set an "outperform" rating for the company in a research note on Wednesday, December 4th. The Goldman Sachs Group cut their price objective on shares of Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, February 27th. HC Wainwright reissued a "buy" rating and issued a $16.00 target price on shares of Relay Therapeutics in a report on Friday, March 7th. JMP Securities restated a "market outperform" rating and set a $21.00 target price on shares of Relay Therapeutics in a research report on Thursday, December 12th. Finally, Stifel Nicolaus reduced their price target on shares of Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $19.80.

Institutional Investors Weigh In On Relay Therapeutics

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