Relay Therapeutics (NASDAQ:RLAY) CFO Thomas Catinazzo Sells 21,664 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 21,664 shares of the stock in a transaction dated Tuesday, October 28th. The stock was sold at an average price of $7.29, for a total transaction of $157,930.56. Following the sale, the chief financial officer directly owned 313,631 shares in the company, valued at approximately $2,286,369.99. This represents a 6.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Relay Therapeutics Stock Up 0.4%

Shares of NASDAQ:RLAY opened at $7.34 on Friday. Relay Therapeutics, Inc. has a 12 month low of $1.77 and a 12 month high of $7.64. The company’s 50-day moving average price is $5.18 and its two-hundred day moving average price is $3.94. The firm has a market cap of $1.27 billion, a P/E ratio of -3.76 and a beta of 1.75.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.08. The company had revenue of $0.70 million for the quarter, compared to the consensus estimate of $0.07 million. As a group, equities analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on RLAY shares. HC Wainwright decreased their price objective on shares of Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, August 26th. Raymond James Financial reduced their target price on shares of Relay Therapeutics from $29.00 to $19.00 and set a “strong-buy” rating on the stock in a research note on Friday, August 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Tuesday, October 14th. Finally, Guggenheim initiated coverage on shares of Relay Therapeutics in a research note on Thursday, September 4th. They issued a “buy” rating and a $15.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RLAY. Commodore Capital LP bought a new position in Relay Therapeutics during the 2nd quarter worth approximately $46,191,000. Woodline Partners LP raised its holdings in Relay Therapeutics by 448.4% during the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after buying an additional 1,241,657 shares during the period. Bellevue Group AG raised its holdings in Relay Therapeutics by 11.6% during the 2nd quarter. Bellevue Group AG now owns 8,230,870 shares of the company’s stock worth $28,479,000 after buying an additional 853,578 shares during the period. Norges Bank acquired a new stake in Relay Therapeutics during the 2nd quarter worth approximately $2,892,000. Finally, Bank of America Corp DE raised its holdings in Relay Therapeutics by 138.1% during the 2nd quarter. Bank of America Corp DE now owns 1,320,130 shares of the company’s stock worth $4,568,000 after buying an additional 765,702 shares during the period. Institutional investors own 96.98% of the company’s stock.

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.