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

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 140,182 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $3.85, for a total value of $539,700.70. Following the transaction, the chief executive officer now owns 625,948 shares in the company, valued at approximately $2,409,899.80. This trade represents a 18.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $3.70, for a total value 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 value 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 Price Performance

Shares of NASDAQ:RLAY opened at $3.96 on Friday. Relay Therapeutics, Inc. has a one year low of $3.50 and a one year high of $11.16. The firm has a 50 day simple moving average of $4.46 and a 200 day simple moving average of $5.81.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RLAY. Norges Bank acquired a new stake in shares of Relay Therapeutics during the 4th quarter valued at $23,821,000. Eventide Asset Management LLC acquired a new position in Relay Therapeutics in the 3rd quarter worth about $18,989,000. Walleye Capital LLC raised its position in Relay Therapeutics by 6,659.2% in the third quarter. Walleye Capital LLC now owns 1,819,983 shares of the company’s stock valued at $12,885,000 after purchasing an additional 1,793,057 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Relay Therapeutics by 39.2% during the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after purchasing an additional 1,554,115 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Relay Therapeutics by 3,883.8% during the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock worth $9,429,000 after purchasing an additional 1,361,779 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on RLAY shares. HC Wainwright reissued a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a report on Tuesday, January 14th. JMP Securities reissued a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. Finally, Leerink Partners lowered their price objective on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. One investment 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, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus target price 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.