Relay Therapeutics, Inc. (NASDAQ:RLAY – Get Free Report) CFO Thomas Catinazzo sold 4,865 shares of the stock in a transaction on Friday, December 27th. The shares were sold at an average price of $4.42, for a total value of $21,503.30. Following the completion of the transaction, the chief financial officer now directly owns 299,226 shares in the company, valued at $1,322,578.92. This trade represents a 1.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Thomas Catinazzo also recently made the following trade(s):
- On Monday, October 28th, Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12.
Relay Therapeutics Trading Down 1.4 %
RLAY stock traded down $0.06 during midday trading on Tuesday, hitting $4.12. 1,417,646 shares of the company’s stock were exchanged, compared to its average volume of 1,564,589. The stock has a market capitalization of $689.62 million, a price-to-earnings ratio of -1.58 and a beta of 1.59. The firm has a 50 day moving average price of $5.14 and a 200-day moving average price of $6.50. Relay Therapeutics, Inc. has a 12-month low of $4.01 and a 12-month high of $12.14.
Hedge Funds Weigh In On Relay Therapeutics
Several large investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Relay Therapeutics by 26.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock valued at $7,333,000 after buying an additional 214,398 shares during the period. Maven Securities LTD bought a new position in Relay Therapeutics in the 3rd quarter valued at approximately $2,389,000. Franklin Resources Inc. boosted its position in shares of Relay Therapeutics by 3,883.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock worth $9,429,000 after purchasing an additional 1,361,779 shares in the last quarter. First Turn Management LLC purchased a new position in shares of Relay Therapeutics in the 3rd quarter worth about $8,683,000. Finally, Ally Bridge Group NY LLC purchased a new stake in shares of Relay Therapeutics in the third quarter worth $4,432,000. 96.98% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages recently commented on RLAY. HC Wainwright cut their price target on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. The Goldman Sachs Group initiated coverage on shares of Relay Therapeutics in a research report on Tuesday, September 10th. They set a “buy” rating and a $20.00 target price on the stock. JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. Oppenheimer downgraded shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. Finally, Barclays upped their price target on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. One equities 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.
View Our Latest Research Report on Relay Therapeutics
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.
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