Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sells $500,000.00 in Stock

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

Relay Therapeutics Trading Down 2.3 %

NASDAQ:RLAY opened at $4.16 on Friday. Relay Therapeutics, Inc. has a 1 year low of $4.11 and a 1 year high of $12.14. The stock has a 50-day moving average price of $5.38 and a two-hundred day moving average price of $6.62. The stock has a market cap of $696.31 million, a price-to-earnings ratio of -1.59 and a beta of 1.59.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same period last year, the business earned ($0.54) earnings per share. The business’s revenue was down 100.0% on a year-over-year basis. Sell-side analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on RLAY. HC Wainwright lowered their price target on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. Bank of America lifted their target price on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, September 10th. Barclays upped their target price on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. reduced 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. Finally, The Goldman Sachs Group initiated coverage on Relay Therapeutics in a report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Eventide Asset Management LLC bought a new stake in Relay Therapeutics in the 3rd quarter valued at $18,989,000. Walleye Capital LLC increased its holdings in Relay Therapeutics by 6,659.2% during the 3rd quarter. Walleye Capital LLC now owns 1,819,983 shares of the company’s stock worth $12,885,000 after purchasing an additional 1,793,057 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Relay Therapeutics by 3,883.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock valued at $9,429,000 after purchasing an additional 1,361,779 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Relay Therapeutics in the third quarter valued at about $9,554,000. Finally, Logos Global Management LP acquired a new position in shares of Relay Therapeutics during the second quarter worth about $8,476,000. Institutional investors and hedge funds 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.