Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sells 125,000 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 125,000 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $4.80, for a total transaction of $600,000.00. Following the transaction, the chief executive officer now directly owns 324,548 shares of the company’s stock, valued at approximately $1,557,830.40. This represents a 27.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sanjiv Patel also recently made the following trade(s):

• On Monday, December 16th, Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock. The shares were sold at an average price of $5.00, for a total transaction of $500,000.00.

Relay Therapeutics Trading Down 0.8 %

Shares of NASDAQ:RLAY opened at $4.85 on Friday. The firm’s 50 day moving average is $4.55 and its two-hundred day moving average is $6.20. The firm has a market capitalization of $811.79 million, a P/E ratio of -1.86 and a beta of 1.60. Relay Therapeutics, Inc. has a 52 week low of $3.50 and a 52 week high of $11.16.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results 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. During the same period in the prior year, the company posted ($0.54) EPS. The business’s revenue was down 100.0% compared to the same quarter last year. Analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Institutional Investors Weigh In On Relay Therapeutics

Institutional investors have recently bought and sold shares of the stock. China Universal Asset Management Co. Ltd. increased its stake in Relay Therapeutics by 37.8% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 35,491 shares of the company’s stock valued at $146,000 after buying an additional 9,740 shares during the period. SG Americas Securities LLC increased its stake in shares of Relay Therapeutics by 40.8% during the fourth quarter. SG Americas Securities LLC now owns 77,557 shares of the company’s stock valued at $320,000 after acquiring an additional 22,473 shares during the period. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 1,554,115 shares in the last quarter. Exome Asset Management LLC acquired a new stake in Relay Therapeutics in the third quarter worth approximately $2,936,000. Finally, Franklin Resources Inc. boosted its stake in Relay Therapeutics by 3,883.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock valued at $9,429,000 after purchasing an additional 1,361,779 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a report on Tuesday, January 14th. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, Leerink Partners reduced their price objective on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Relay Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

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.