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 transaction of $539,700.70. Following the completion of the transaction, the chief executive officer now directly owns 625,948 shares of the company’s stock, valued at approximately $2,409,899.80. This represents a 18.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Thursday, February 13th, Sanjiv Patel sold 75,324 shares of Relay Therapeutics stock. The stock was sold at an average price of $3.70, for a total transaction 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 transaction 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 Stock Performance

RLAY stock opened at $4.00 on Friday. The firm has a market cap of $669.53 million, a PE ratio of -1.53 and a beta of 1.61. The firm’s fifty day moving average is $4.44 and its 200 day moving average is $5.75. Relay Therapeutics, Inc. has a one year low of $3.50 and a one year high of $11.16.

Analyst Ratings Changes

A number of research firms have issued reports on RLAY. Leerink Partners decreased 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. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a report on Tuesday, January 14th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Institutional Trading of Relay Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Relay Therapeutics by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company’s stock valued at $61,924,000 after buying an additional 566,595 shares during the period. Bellevue Group AG grew its position in Relay Therapeutics by 15.7% during the third quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock valued at $52,230,000 after buying an additional 1,000,069 shares during the period. Norges Bank acquired a new stake in Relay Therapeutics during the fourth quarter valued at $23,821,000. JPMorgan Chase & Co. grew its position in 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 buying an additional 1,554,115 shares during the period. Finally, State Street Corp grew its position in Relay Therapeutics by 1.2% during the third quarter. State Street Corp now owns 4,300,216 shares of the company’s stock valued at $30,446,000 after buying an additional 51,810 shares during the period. Institutional investors and hedge funds own 96.98% of the company’s stock.

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.