Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel Sells 125,000 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 125,000 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $4.80, for a total value of $600,000.00. Following the completion of the sale, the chief executive officer now owns 324,548 shares of the company’s stock, valued at approximately $1,557,830.40. This represents a 27.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Sanjiv Patel also recently made the following trade(s):

• 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 value of $500,000.00.

Relay Therapeutics Trading Down 0.6 %

NASDAQ RLAY opened at $4.89 on Friday. Relay Therapeutics, Inc. has a 12 month low of $3.50 and a 12 month high of $11.16. The company’s fifty day moving average price is $4.56 and its two-hundred day moving average price is $6.21.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. The business’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.54) earnings per share. Analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Institutional Trading of Relay Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of RLAY. EverSource Wealth Advisors LLC bought a new stake in shares of Relay Therapeutics in the 2nd quarter valued at approximately $37,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Relay Therapeutics during the third quarter valued at $63,000. Portland Investment Counsel Inc. bought a new stake in Relay Therapeutics during the third quarter valued at $71,000. Values First Advisors Inc. acquired a new stake in shares of Relay Therapeutics during the third quarter worth $75,000. Finally, Point72 DIFC Ltd bought a new position in shares of Relay Therapeutics in the 3rd quarter worth about $134,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Wall Street Analysts Forecast Growth

RLAY has been the topic of several recent research reports. HC Wainwright reissued a “buy” rating and set a $16.00 price target on shares of Relay Therapeutics in a research report on Tuesday, January 14th. JMP Securities reissued a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a research report on Thursday, December 12th. Finally, Leerink Partners lowered 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 assigned a buy rating to the stock. Based on data from MarketBeat, Relay Therapeutics currently 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.