Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells $13,813.76 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 4,864 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $2.84, for a total value of $13,813.76. Following the completion of the transaction, the chief financial officer now directly owns 374,567 shares of the company’s stock, valued at $1,063,770.28. The trade was a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, January 30th, Thomas Catinazzo sold 20,791 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.42, for a total value of $91,896.22.
• On Tuesday, January 28th, Thomas Catinazzo sold 36,036 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.63, for a total transaction of $166,846.68.

Relay Therapeutics Trading Up 0.8 %

Shares of NASDAQ:RLAY opened at $2.49 on Thursday. Relay Therapeutics, Inc. has a 12-month low of $2.36 and a 12-month high of $10.72. The stock’s 50-day moving average price is $3.71 and its two-hundred day moving average price is $4.87. The firm has a market cap of $422.11 million, a price-to-earnings ratio of -0.95 and a beta of 1.65.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.12. As a group, research analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Institutional Trading of Relay Therapeutics

Institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its holdings in Relay Therapeutics by 160.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after acquiring an additional 4,000 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of Relay Therapeutics in the 4th quarter worth about $42,000. Twinbeech Capital LP acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at about $42,000. Cibc World Markets Corp purchased a new stake in shares of Relay Therapeutics during the 4th quarter worth about $47,000. Finally, Summit Investment Advisors Inc. increased its position in Relay Therapeutics by 41.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company’s stock worth $52,000 after purchasing an additional 3,760 shares in the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a research note on Friday, March 7th. Stifel Nicolaus dropped their price target on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. JMP Securities restated a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research report on Thursday, December 12th. Finally, Leerink Partners dropped their price objective 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. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.80.

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.