Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel Sells 100,000 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $5.00, for a total value of $500,000.00. Following the completion of the sale, the chief executive officer now owns 574,548 shares in the company, valued at $2,872,740. The trade was a 14.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Relay Therapeutics Stock Down 6.7 %

Shares of NASDAQ RLAY opened at $4.20 on Thursday. The business’s 50 day moving average price is $5.48 and its two-hundred day moving average price is $6.66. The company has a market cap of $703.01 million, a PE ratio of -1.61 and a beta of 1.59. Relay Therapeutics, Inc. has a twelve month low of $4.11 and a twelve month high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.14. During the same period last year, the business earned ($0.54) EPS. The business’s revenue was down 100.0% on a year-over-year basis. As a group, research analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Barclays boosted their price objective on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group began coverage on shares of Relay Therapeutics in a research note on Tuesday, September 10th. They set a “buy” rating and a $20.00 price objective for the company. Bank of America lifted their target price on Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the company from $10.60 to $16.00 in a research report on Tuesday, September 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 price target on shares of Relay Therapeutics in a research report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Hedge Funds Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bellevue Group AG lifted its stake in shares of Relay Therapeutics by 15.7% during the 3rd quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock worth $52,230,000 after buying an additional 1,000,069 shares during the last quarter. State Street Corp raised its holdings in Relay Therapeutics by 1.2% in the 3rd quarter. State Street Corp now owns 4,300,216 shares of the company’s stock valued at $30,446,000 after acquiring an additional 51,810 shares during the period. Braidwell LP lifted its position in Relay Therapeutics by 16.4% during the third quarter. Braidwell LP now owns 3,499,427 shares of the company’s stock worth $24,776,000 after acquiring an additional 492,628 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Relay Therapeutics by 15.5% during the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock worth $19,348,000 after acquiring an additional 367,473 shares during the period. Finally, Eventide Asset Management LLC acquired a new position in shares of Relay Therapeutics in the third quarter valued at approximately $18,989,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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.