Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel Sells 75,324 Shares of Stock

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

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 transaction of $539,700.70.
• On Wednesday, January 22nd, Sanjiv Patel sold 125,000 shares of Relay Therapeutics stock. The shares were 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 shares were sold at an average price of $5.00, for a total transaction of $500,000.00.

Relay Therapeutics Stock Up 5.3 %

NASDAQ RLAY opened at $3.96 on Friday. Relay Therapeutics, Inc. has a 52 week low of $3.50 and a 52 week high of $11.16. The firm’s 50-day simple moving average is $4.46 and its two-hundred day simple moving average is $5.81.

Institutional Trading of Relay Therapeutics

A number of institutional investors have recently modified their holdings of RLAY. Steward Partners Investment Advisory LLC grew its stake in Relay Therapeutics by 160.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after buying an additional 4,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Relay Therapeutics in the third quarter worth $63,000. Portland Investment Counsel Inc. purchased a new position in shares of Relay Therapeutics in the third quarter valued at $71,000. Values First Advisors Inc. bought a new stake in shares of Relay Therapeutics during the 3rd quarter valued at $75,000. Finally, Cibc World Markets Corp purchased a new stake in Relay Therapeutics during the 4th quarter worth about $47,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on RLAY shares. HC Wainwright reiterated a “buy” rating and set a $16.00 price target on shares of Relay Therapeutics in a report on Tuesday, January 14th. Leerink Partners cut their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a report on Thursday, December 12th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Relay Therapeutics has an average rating of “Moderate Buy” and an average target price of $20.50.

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.