Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sells $600,000.00 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 125,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $4.80, for a total transaction of $600,000.00. Following the completion of the transaction, the chief executive officer now owns 324,548 shares of the company’s stock, valued at approximately $1,557,830.40. This represents a 27.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, December 16th, Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock. The stock was sold at an average price of $5.00, for a total transaction of $500,000.00.

Relay Therapeutics Stock Down 0.8 %

Shares of NASDAQ RLAY opened at $4.85 on Friday. The firm has a 50-day simple moving average of $4.54 and a 200-day simple moving average of $6.19. The stock has a market capitalization of $811.79 million, a price-to-earnings ratio of -1.86 and a beta of 1.60. Relay Therapeutics, Inc. has a 52 week low of $3.50 and a 52 week high of $11.16.

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

Analyst Ratings Changes

RLAY has been the subject of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $16.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, January 14th. Leerink Partners reduced their price objective on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. Finally, JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Relay Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

Institutional Investors Weigh In On Relay Therapeutics

A number of hedge funds have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its holdings in shares of Relay Therapeutics by 37.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 35,491 shares of the company’s stock valued at $146,000 after purchasing an additional 9,740 shares during the period. SG Americas Securities LLC grew its holdings in shares of Relay Therapeutics by 40.8% in the fourth quarter. SG Americas Securities LLC now owns 77,557 shares of the company’s stock valued at $320,000 after purchasing an additional 22,473 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Relay Therapeutics by 39.2% in the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after purchasing an additional 1,554,115 shares during the period. Exome Asset Management LLC purchased a new stake in shares of Relay Therapeutics in the third quarter valued at about $2,936,000. Finally, Franklin Resources Inc. grew its holdings in shares of Relay Therapeutics by 3,883.8% in the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock valued at $9,429,000 after purchasing an additional 1,361,779 shares during the period. Hedge funds and other 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.