Sanjiv Patel Sells 140,182 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 140,182 shares of Relay Therapeutics stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total transaction of $539,700.70. Following the completion of the transaction, the chief executive officer now directly owns 625,948 shares of the company’s stock, valued at approximately $2,409,899.80. This represents a 18.30 % 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 Thursday, February 13th, Sanjiv Patel sold 75,324 shares of Relay Therapeutics stock. The stock was sold at an average price of $3.70, for a total transaction of $278,698.80.
• On Wednesday, January 22nd, Sanjiv Patel sold 125,000 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.80, for a total transaction of $600,000.00.
• On Monday, December 16th, Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock. The stock was sold at an average price of $5.00, for a total transaction of $500,000.00.

Relay Therapeutics Stock Up 1.0 %

Shares of NASDAQ RLAY opened at $4.00 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $3.50 and a fifty-two week high of $11.16. The firm’s 50-day simple moving average is $4.45 and its 200 day simple moving average is $5.79. The stock has a market cap of $669.52 million, a P/E ratio of -1.53 and a beta of 1.61.

Institutional Investors Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Boxer Capital Management LLC bought a new stake in shares of Relay Therapeutics during the fourth quarter valued at about $2,209,000. Schonfeld Strategic Advisors LLC bought a new stake in Relay Therapeutics in the fourth quarter worth about $1,461,000. Northern Trust Corp raised its position in Relay Therapeutics by 24.7% in the fourth quarter. Northern Trust Corp now owns 1,169,979 shares of the company’s stock worth $4,820,000 after acquiring an additional 231,713 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Relay Therapeutics by 1.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 218,872 shares of the company’s stock worth $902,000 after acquiring an additional 3,325 shares in the last quarter. Finally, Tudor Investment Corp ET AL raised its position in Relay Therapeutics by 7.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 86,357 shares of the company’s stock worth $356,000 after acquiring an additional 5,674 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RLAY shares. JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a report on Thursday, December 12th. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Relay Therapeutics in a report on Tuesday, January 14th. Finally, Leerink Partners reduced their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $20.50.

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.