Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel Sells 36,706 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 36,706 shares of Relay Therapeutics stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $9.07, for a total value of $332,923.42. Following the completion of the transaction, the chief executive officer now owns 766,130 shares in the company, valued at $6,948,799.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Relay Therapeutics Stock Down 8.1 %

Shares of Relay Therapeutics stock traded down $0.72 during trading on Monday, reaching $8.22. The company’s stock had a trading volume of 967,519 shares, compared to its average volume of 1,235,740. Relay Therapeutics, Inc. has a 12-month low of $5.70 and a 12-month high of $12.63. The company has a market capitalization of $1.09 billion, a P/E ratio of -3.11 and a beta of 1.66. The business has a 50 day moving average price of $7.33 and a 200-day moving average price of $8.06.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.08. The firm had revenue of $10.01 million for the quarter, compared to analyst estimates of $0.12 million. The business’s revenue for the quarter was up 4327.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.78) earnings per share. Research analysts predict that Relay Therapeutics, Inc. will post -2.81 EPS for the current fiscal year.

Hedge Funds Weigh In On Relay Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of RLAY. Allspring Global Investments Holdings LLC acquired a new position in Relay Therapeutics during the first quarter worth $79,000. Virtu Financial LLC acquired a new position in Relay Therapeutics during the first quarter worth $87,000. Los Angeles Capital Management LLC raised its holdings in Relay Therapeutics by 25.7% during the first quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after purchasing an additional 2,850 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Relay Therapeutics during the fourth quarter worth $126,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Relay Therapeutics in the first quarter worth $127,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Oppenheimer reiterated an “outperform” rating and issued a $25.00 target price (down from $33.00) on shares of Relay Therapeutics in a research note on Monday, May 6th. HC Wainwright decreased their price target on Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. JMP Securities decreased their price target on Relay Therapeutics from $24.00 to $21.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 18th. Finally, Barclays decreased their price target on Relay Therapeutics from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Friday. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Relay Therapeutics has an average rating of “Buy” and an average price target of $21.60.

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.