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

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

Relay Therapeutics Stock Performance

Shares of RLAY opened at $4.26 on Friday. The company has a market capitalization of $713.05 million, a PE ratio of -1.63 and a beta of 1.59. The company’s 50 day moving average price is $5.43 and its 200 day moving average price is $6.64. Relay Therapeutics, Inc. has a 52 week low of $4.11 and a 52 week high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same quarter in the previous year, the firm earned ($0.54) EPS. The company’s revenue was down 100.0% compared to the same quarter last year. On average, equities analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Relay Therapeutics by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company’s stock worth $292,000 after purchasing an additional 2,547 shares in the last quarter. EverSource Wealth Advisors LLC bought a new position in Relay Therapeutics during the second quarter valued at approximately $37,000. Rhumbline Advisers raised its position in Relay Therapeutics by 4.8% during the second quarter. Rhumbline Advisers now owns 163,895 shares of the company’s stock valued at $1,069,000 after acquiring an additional 7,508 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Relay Therapeutics by 11.2% in the second quarter. Victory Capital Management Inc. now owns 76,539 shares of the company’s stock valued at $499,000 after acquiring an additional 7,680 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Relay Therapeutics in the third quarter worth approximately $63,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on RLAY. Leerink Partners decreased their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. Barclays lifted their target price on Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Oppenheimer lowered Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. The Goldman Sachs Group initiated coverage on Relay Therapeutics in a research note on Tuesday, September 10th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, Jefferies Financial Group upgraded Relay Therapeutics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $10.60 to $16.00 in a report on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus target price 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.