Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells 6,802 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 6,802 shares of the business’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $6.06, for a total value of $41,220.12. Following the completion of the sale, the chief financial officer now directly owns 306,391 shares of the company’s stock, valued at $1,856,729.46. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Relay Therapeutics Stock Performance

Shares of RLAY opened at $5.64 on Friday. The stock’s 50-day moving average price is $6.90 and its 200 day moving average price is $7.02. Relay Therapeutics, Inc. has a 12-month low of $5.60 and a 12-month high of $12.14.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Tuesday, August 6th. The company reported ($0.69) earnings per share for the quarter, topping the consensus estimate of ($0.73) by $0.04. During the same period last year, the business posted ($0.81) EPS. Equities analysts predict that Relay Therapeutics, Inc. will post -2.84 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RLAY. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and raised their price objective for the company from $10.60 to $16.00 in a research note on Tuesday, September 10th. Bank of America boosted their price objective on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. HC Wainwright reiterated a “buy” rating and issued a $19.00 target price on shares of Relay Therapeutics in a research note on Monday, October 14th. The Goldman Sachs Group began coverage on shares of Relay Therapeutics in a research report on Tuesday, September 10th. They set a “buy” rating and a $20.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their price target on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Relay Therapeutics has an average rating of “Moderate Buy” and an average target price of $21.11.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of RLAY. Russell Investments Group Ltd. boosted its position in shares of Relay Therapeutics by 57.2% during the 1st quarter. Russell Investments Group Ltd. now owns 179,972 shares of the company’s stock valued at $1,494,000 after acquiring an additional 65,484 shares in the last quarter. Logos Global Management LP acquired a new stake in Relay Therapeutics during the second quarter valued at approximately $8,476,000. Allspring Global Investments Holdings LLC acquired a new stake in Relay Therapeutics during the first quarter valued at approximately $79,000. Los Angeles Capital Management LLC grew its stake in shares of Relay Therapeutics by 661.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 106,169 shares of the company’s stock valued at $692,000 after purchasing an additional 92,230 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Relay Therapeutics by 19.1% in the 2nd quarter. Renaissance Technologies LLC now owns 909,037 shares of the company’s stock worth $5,927,000 after buying an additional 145,837 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Company Profile

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.