Thomas Catinazzo Sells 4,865 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 4,865 shares of Relay Therapeutics stock in a transaction on Friday, December 27th. The stock was sold at an average price of $4.42, for a total transaction of $21,503.30. Following the completion of the transaction, the chief financial officer now directly owns 299,226 shares in the company, valued at approximately $1,322,578.92. The trade was a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, October 28th, Thomas Catinazzo sold 6,802 shares of Relay Therapeutics stock. The stock was sold at an average price of $6.06, for a total transaction of $41,220.12.

Relay Therapeutics Trading Down 1.4 %

Shares of Relay Therapeutics stock opened at $4.12 on Thursday. Relay Therapeutics, Inc. has a 12 month low of $4.01 and a 12 month high of $12.14. The firm has a market capitalization of $689.62 million, a P/E ratio of -1.58 and a beta of 1.59. The business has a fifty day simple moving average of $5.00 and a two-hundred day simple moving average of $6.44.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly 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 revenue for the quarter was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.54) EPS. Analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Institutional Trading of Relay Therapeutics

A number of hedge funds have recently made changes to their positions in the stock. Bellevue Group AG increased its position in Relay Therapeutics by 15.7% during the 3rd 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 in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Relay Therapeutics by 39.2% in the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock worth $39,064,000 after acquiring an additional 1,554,115 shares during the last quarter. State Street Corp increased its holdings in shares of 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 acquiring an additional 51,810 shares in the last quarter. Braidwell LP raised its position in shares of Relay Therapeutics by 16.4% in the 3rd quarter. Braidwell LP now owns 3,499,427 shares of the company’s stock worth $24,776,000 after purchasing an additional 492,628 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Relay Therapeutics by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock worth $19,348,000 after purchasing an additional 367,473 shares in the last quarter. 96.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RLAY shares. The Goldman Sachs Group initiated coverage on shares of Relay Therapeutics in a report on Tuesday, September 10th. They set a “buy” rating and a $20.00 target price for the company. Bank of America lifted their price objective on Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. JPMorgan Chase & Co. decreased their target price on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $28.00 price target on shares of Relay Therapeutics in a report on Monday, September 16th. Finally, Leerink Partners decreased their price objective 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 issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.