Thomas Catinazzo Sells 4,864 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 4,864 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $2.84, for a total value of $13,813.76. Following the completion of the sale, the chief financial officer now owns 374,567 shares of the company’s stock, valued at $1,063,770.28. This trade represents a 1.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, January 30th, Thomas Catinazzo sold 20,791 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.42, for a total value of $91,896.22.
• 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 value of $166,846.68.

Relay Therapeutics Price Performance

Shares of RLAY opened at $2.47 on Wednesday. The business’s 50-day moving average is $3.76 and its 200-day moving average is $4.89. The company has a market capitalization of $418.72 million, a price-to-earnings ratio of -0.95 and a beta of 1.65. Relay Therapeutics, Inc. has a fifty-two week low of $2.38 and a fifty-two week high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.12. Equities research analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on RLAY. The Goldman Sachs Group dropped their price target on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. JMP Securities reissued a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a research note on Thursday, December 12th. Leerink Partners decreased their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. Stifel Nicolaus cut their price objective on Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a report on Friday, March 7th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Relay Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $19.80.

Institutional Trading of Relay Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans increased its position in Relay Therapeutics by 33.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 160,458 shares of the company’s stock worth $1,137,000 after purchasing an additional 40,447 shares during the last quarter. Intech Investment Management LLC acquired a new position in Relay Therapeutics in the third quarter worth approximately $256,000. Charles Schwab Investment Management Inc. raised its position 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. FMR LLC lifted its stake in Relay Therapeutics by 27.4% in the third quarter. FMR LLC now owns 89,772 shares of the company’s stock valued at $636,000 after acquiring an additional 19,296 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Relay Therapeutics by 6.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 223,289 shares of the company’s stock valued at $1,581,000 after acquiring an additional 13,640 shares during the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

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.