Insider Selling: Relay Therapeutics (NASDAQ:RLAY) CEO Sells $912,889.06 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 48,199 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $18.94, for a total transaction of $912,889.06. Following the transaction, the chief executive officer owned 519,500 shares in the company, valued at $9,839,330. The trade was a 8.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, July 7th, Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock. The stock was sold at an average price of $19.58, for a total transaction of $943,736.42.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY opened at $18.87 on Friday. Relay Therapeutics, Inc. has a 1 year low of $3.88 and a 1 year high of $21.27. The firm has a 50-day simple moving average of $19.38 and a two-hundred day simple moving average of $15.43. The company has a market cap of $4.14 billion, a P/E ratio of -12.02 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The firm had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $0.96 million. As a group, equities research analysts expect that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Institutional Trading of Relay Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Relay Therapeutics in the second quarter worth about $286,042,000. Commodore Capital LP bought a new stake in shares of Relay Therapeutics in the 2nd quarter valued at about $46,191,000. Casdin Capital LLC raised its holdings in shares of Relay Therapeutics by 14.7% in the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock valued at $110,010,000 after purchasing an additional 1,662,193 shares in the last quarter. Perceptive Advisors LLC lifted its position in shares of Relay Therapeutics by 412.3% in the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after purchasing an additional 7,847,896 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Relay Therapeutics by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock worth $81,990,000 after purchasing an additional 295,701 shares during the period. 96.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RLAY has been the topic of a number of recent analyst reports. JonesTrading upgraded Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. JPMorgan Chase & Co. boosted their target price on shares of Relay Therapeutics from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Guggenheim restated a “buy” rating on shares of Relay Therapeutics in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Monday, July 6th. Finally, Wall Street Zen cut shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a clinical-stage biotechnology company that develops medicines for patients with genetically defined diseases, including cancer. The company combines computational and experimental approaches to study how proteins move and change shape, with the goal of identifying druggable sites and designing more selective therapies.

Relay’s research platform, known as Dynamo, integrates structural biology, computational modeling, biophysics and chemistry to support the discovery and development of small-molecule drug candidates.