Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo Sells 4,865 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 4,865 shares of the firm’s stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $4.42, for a total value of $21,503.30. Following the completion of the sale, the chief financial officer now owns 299,226 shares of the company’s stock, valued at $1,322,578.92. This represents a 1.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Monday, October 28th, Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock. The shares were sold at an average price of $6.06, for a total value of $41,220.12.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY opened at $4.12 on Wednesday. The business has a fifty day moving average of $5.04 and a 200-day moving average of $6.45. The firm has a market cap of $689.62 million, a PE ratio of -1.58 and a beta of 1.59. Relay Therapeutics, Inc. has a twelve month low of $4.01 and a twelve month high of $12.14.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its position in shares of 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 worth $7,333,000 after acquiring an additional 214,398 shares during the last quarter. Maven Securities LTD bought a new stake in Relay Therapeutics during the 3rd quarter worth about $2,389,000. Franklin Resources Inc. lifted its position in Relay Therapeutics by 3,883.8% during 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. First Turn Management LLC bought a new position in shares of Relay Therapeutics in the 3rd quarter valued at about $8,683,000. Finally, Geode Capital Management LLC boosted its stake in shares of Relay Therapeutics by 15.5% in 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 during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RLAY shares. Barclays boosted their price target on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Stifel Nicolaus reissued a “buy” rating and issued a $28.00 price target on shares of Relay Therapeutics in a research report on Monday, September 16th. Bank of America raised their price target on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 10th. HC Wainwright dropped their target price on Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a research note on Thursday, December 12th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Relay Therapeutics presently has a consensus 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.