Thomas Catinazzo Sells 9,373 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 9,373 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $6.24, for a total value of $58,487.52. Following the sale, the chief financial officer now directly owns 330,430 shares of the company’s stock, valued at $2,061,883.20. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Monday, April 29th, Thomas Catinazzo sold 1,695 shares of Relay Therapeutics stock. The shares were sold at an average price of $6.38, for a total value of $10,814.10.

Relay Therapeutics Stock Up 1.1 %

NASDAQ:RLAY opened at $6.47 on Wednesday. Relay Therapeutics, Inc. has a 12-month low of $5.70 and a 12-month high of $13.32. The firm has a market capitalization of $858.83 million, a P/E ratio of -2.45 and a beta of 1.66. The stock’s fifty day simple moving average is $6.83 and its 200-day simple moving average is $8.47.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results 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 company had revenue of $10.01 million during the quarter, compared to the consensus estimate of $0.12 million. During the same quarter in the prior year, the business earned ($0.78) earnings per share. The firm’s revenue for the quarter was up 4327.9% on a year-over-year basis. As a group, equities research analysts expect that Relay Therapeutics, Inc. will post -2.81 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. JMP Securities reissued a “market outperform” rating and issued a $24.00 target price on shares of Relay Therapeutics in a research note on Monday, May 6th. Barclays raised Relay Therapeutics from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research note on Friday, May 10th. Oppenheimer reissued 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. Finally, HC Wainwright reissued a “buy” rating and issued a $20.00 target price on shares of Relay Therapeutics in a research note on Friday, June 7th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $22.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in Relay Therapeutics during the first quarter worth about $79,000. Virtu Financial LLC bought a new position in Relay Therapeutics during the first quarter worth about $87,000. Victory Capital Management Inc. bought a new position in Relay Therapeutics during the fourth quarter worth about $126,000. Quest Partners LLC bought a new position in Relay Therapeutics during the fourth quarter worth about $147,000. Finally, Los Angeles Capital Management LLC lifted 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 acquiring an additional 2,850 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors.

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.