Insider Selling: Relay Therapeutics (NASDAQ:RLAY) CFO Sells $335,559.98 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 17,717 shares of the business’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $18.94, for a total value of $335,559.98. Following the completion of the transaction, the chief financial officer directly owned 122,851 shares in the company, valued at approximately $2,326,797.94. This represents a 12.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Thomas Catinazzo also recently made the following trade(s):

• On Tuesday, July 28th, Thomas Catinazzo sold 1,459 shares of Relay Therapeutics stock. The shares were sold at an average price of $18.61, for a total value of $27,151.99.
• On Monday, July 6th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The stock was sold at an average price of $18.69, for a total value of $331,130.73.
• On Monday, June 22nd, Thomas Catinazzo sold 187,163 shares of Relay Therapeutics stock. The stock was sold at an average price of $16.97, for a total transaction of $3,176,156.11.

Relay Therapeutics Stock Performance

RLAY opened at $18.87 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $3.88 and a fifty-two week high of $21.27. The firm has a 50-day moving average of $19.38 and a 200 day moving average of $15.43. The firm 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 announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The business had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.96 million. Equities research analysts predict that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. KBC Group NV bought a new position in shares of Relay Therapeutics in the first quarter worth $34,000. Allworth Financial LP bought a new stake in shares of Relay Therapeutics during the 2nd quarter valued at $34,000. Smartleaf Asset Management LLC raised its stake in shares of Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after purchasing an additional 3,287 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in Relay Therapeutics during the 4th quarter worth about $46,000. Finally, Captrust Financial Advisors purchased a new stake in Relay Therapeutics during the 2nd quarter worth about $49,000. Institutional investors own 96.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RLAY has been the subject of several research reports. Wall Street Zen downgraded Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Barclays upped their price target on Relay Therapeutics from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. HC Wainwright lifted their price objective on Relay Therapeutics from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Citizens Jmp boosted their price objective on Relay Therapeutics from $21.00 to $26.00 and gave the company a “market outperform” rating in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Relay Therapeutics from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Relay Therapeutics presently 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.