Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sells $278,698.80 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 75,324 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $3.70, for a total value of $278,698.80. Following the completion of the sale, the chief executive officer now directly owns 883,089 shares of the company’s stock, valued at approximately $3,267,429.30. This trade represents a 7.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, February 11th, Sanjiv Patel sold 140,182 shares of Relay Therapeutics stock. The stock was sold at an average price of $3.85, for a total value of $539,700.70.
• On Wednesday, January 22nd, Sanjiv Patel sold 125,000 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.80, for a total value of $600,000.00.
• 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 value of $500,000.00.

Relay Therapeutics Trading Up 1.0 %

Shares of NASDAQ RLAY opened at $4.00 on Friday. The stock has a fifty day simple moving average of $4.45 and a two-hundred day simple moving average of $5.79. Relay Therapeutics, Inc. has a 1-year low of $3.50 and a 1-year high of $11.16. The firm has a market cap of $669.52 million, a price-to-earnings ratio of -1.53 and a beta of 1.61.

Hedge Funds Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of RLAY. Steward Partners Investment Advisory LLC grew its holdings in Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after purchasing an additional 4,000 shares during the period. Stifel Financial Corp bought a new position in Relay Therapeutics during the fourth quarter valued at $42,000. Cibc World Markets Corp bought a new position in shares of Relay Therapeutics in the fourth quarter worth $47,000. Ameritas Investment Partners Inc. boosted its holdings in shares of Relay Therapeutics by 41.9% in the fourth quarter. Ameritas Investment Partners Inc. now owns 12,730 shares of the company’s stock worth $52,000 after acquiring an additional 3,760 shares during the period. Finally, Virtus ETF Advisers LLC boosted its holdings in shares of Relay Therapeutics by 26.2% in the fourth quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company’s stock worth $61,000 after acquiring an additional 3,092 shares during the period. 96.98% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on RLAY shares. HC Wainwright reaffirmed a “buy” rating and set a $16.00 price target on shares of Relay Therapeutics in a research report on Tuesday, January 14th. Leerink Partners decreased their price target on 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 reaffirmed a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.50.

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.