Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo Sells 20,791 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 20,791 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $4.42, for a total transaction of $91,896.22. Following the completion of the sale, the chief financial officer now owns 379,431 shares of the company’s stock, valued at approximately $1,677,085.02. This represents a 5.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, January 28th, Thomas Catinazzo sold 36,036 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.63, for a total transaction of $166,846.68.
• On Friday, December 27th, Thomas Catinazzo sold 4,865 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.42, for a total value of $21,503.30.

Relay Therapeutics Stock Performance

NASDAQ RLAY traded up $0.06 during trading on Thursday, hitting $4.54. 1,154,019 shares of the company’s stock traded hands, compared to its average volume of 2,957,148. The stock has a market capitalization of $759.92 million, a price-to-earnings ratio of -1.74 and a beta of 1.60. Relay Therapeutics, Inc. has a 12-month low of $3.50 and a 12-month high of $11.16. The business has a 50 day moving average of $4.53 and a 200-day moving average of $6.12.

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

Wall Street Analysts Forecast Growth

RLAY has been the topic of several research analyst reports. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, January 14th. Leerink Partners cut their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a 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 report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Hedge Funds Weigh In On Relay Therapeutics

Large investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in Relay Therapeutics by 26.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock valued at $7,333,000 after acquiring an additional 214,398 shares in the last quarter. Maven Securities LTD bought a new position in Relay Therapeutics in the 3rd quarter valued at $2,389,000. Geode Capital Management LLC grew its position in shares of Relay Therapeutics by 15.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock valued at $19,348,000 after purchasing an additional 367,473 shares in the last quarter. JPMorgan Chase & Co. increased 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 worth $39,064,000 after purchasing an additional 1,554,115 shares during the period. Finally, Franklin Resources Inc. raised its position 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 worth $9,429,000 after buying an additional 1,361,779 shares in the last quarter. 96.98% of the stock is owned by institutional investors.

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.