Sanjiv Patel Sells 75,324 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 75,324 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $3.70, for a total value of $278,698.80. Following the completion of the transaction, the chief executive officer now directly owns 883,089 shares of the company’s stock, valued at approximately $3,267,429.30. The trade was a 7.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, February 11th, Sanjiv Patel sold 140,182 shares of Relay Therapeutics stock. The stock was sold at an average price of $3.85, for a total value of $539,700.70.
• On Wednesday, January 22nd, Sanjiv Patel sold 125,000 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.80, for a total value of $600,000.00.
• 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 value of $500,000.00.

Relay Therapeutics Price Performance

Shares of Relay Therapeutics stock opened at $4.00 on Friday. Relay Therapeutics, Inc. has a one year low of $3.50 and a one year high of $11.16. The stock’s 50-day moving average is $4.45 and its 200 day moving average is $5.79. The firm has a market cap of $669.52 million, a price-to-earnings ratio of -1.53 and a beta of 1.61.

Analyst Ratings Changes

A number of research firms have commented on RLAY. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research report on Thursday, December 12th. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a research report on Tuesday, January 14th. Finally, Leerink Partners reduced their price target 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. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RLAY. Norges Bank bought a new position in Relay Therapeutics in the fourth quarter worth approximately $23,821,000. Eventide Asset Management LLC bought a new position in Relay Therapeutics in the third quarter worth approximately $18,989,000. Walleye Capital LLC boosted its holdings in Relay Therapeutics by 6,659.2% in the third quarter. Walleye Capital LLC now owns 1,819,983 shares of the company’s stock worth $12,885,000 after acquiring an additional 1,793,057 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Relay Therapeutics by 39.2% in 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 in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Relay Therapeutics by 3,883.8% in the third 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 in the last quarter. 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.