Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells $13,813.76 in Stock

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

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

• On Thursday, January 30th, Thomas Catinazzo sold 20,791 shares of Relay Therapeutics stock. The stock was 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 shares were sold at an average price of $4.63, for a total value of $166,846.68.

Relay Therapeutics Stock Performance

Shares of RLAY stock opened at $2.62 on Tuesday. Relay Therapeutics, Inc. has a 52-week low of $2.45 and a 52-week high of $10.72. The stock has a market cap of $444.15 million, a price-to-earnings ratio of -1.00 and a beta of 1.65. The firm’s 50-day moving average is $3.80 and its 200-day moving average is $4.93.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RLAY. Leerink Partners dropped their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. HC Wainwright reiterated a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a report on Friday, March 7th. The Goldman Sachs Group reduced their target price 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. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. Finally, Stifel Nicolaus cut their price target on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.80.

Institutional Investors Weigh In On Relay Therapeutics

Several hedge funds have recently added to or reduced their stakes in RLAY. Vanguard Group Inc. raised its position in shares of Relay Therapeutics by 3.9% in the fourth quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company’s stock valued at $61,924,000 after purchasing an additional 566,595 shares during the period. Tang Capital Management LLC raised its holdings in Relay Therapeutics by 126.1% in the 4th quarter. Tang Capital Management LLC now owns 8,068,058 shares of the company’s stock valued at $33,240,000 after acquiring an additional 4,500,000 shares during the period. Bellevue Group AG lifted its position in Relay Therapeutics by 15.7% during the third quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock worth $52,230,000 after acquiring an additional 1,000,069 shares during the last quarter. Norges Bank bought a new stake in shares of Relay Therapeutics during the fourth quarter worth approximately $23,821,000. Finally, JPMorgan Chase & Co. grew its position in shares of Relay Therapeutics by 39.2% in the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after purchasing an additional 1,554,115 shares during the last quarter. Institutional investors and hedge funds 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.