Thomas Catinazzo Sells 12,943 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 12,943 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $3.00, for a total value of $38,829.00. Following the completion of the sale, the chief financial officer now owns 355,376 shares of the company’s stock, valued at $1,066,128. This represents a 3.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, April 28th, Thomas Catinazzo sold 2,690 shares of Relay Therapeutics stock. The shares were sold at an average price of $3.17, for a total value of $8,527.30.
• On Thursday, March 27th, Thomas Catinazzo sold 4,864 shares of Relay Therapeutics stock. The stock was sold at an average price of $2.84, for a total transaction of $13,813.76.
• On Thursday, January 30th, Thomas Catinazzo sold 20,791 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.42, for a total transaction of $91,896.22.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY opened at $3.29 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $10.72. The company has a market cap of $557.73 million, a PE ratio of -1.26 and a beta of 1.70. The business has a 50-day simple moving average of $2.96 and a two-hundred day simple moving average of $4.21.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Wednesday, February 26th. The company reported ($0.45) EPS for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.12. On average, sell-side analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Barclays PLC raised its stake in Relay Therapeutics by 118.4% in the 3rd quarter. Barclays PLC now owns 251,819 shares of the company’s stock worth $1,783,000 after acquiring an additional 136,541 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Relay Therapeutics in the third quarter valued at about $333,000. Franklin Resources Inc. raised its stake in shares of Relay Therapeutics by 3,883.8% in the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock worth $9,429,000 after purchasing an additional 1,361,779 shares during the last quarter. Exome Asset Management LLC acquired a new stake in shares of Relay Therapeutics during the third quarter worth about $2,936,000. Finally, JPMorgan Chase & Co. boosted its position in Relay Therapeutics by 39.2% in 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 last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on RLAY. The Goldman Sachs Group cut their price objective on shares of Relay Therapeutics from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. HC Wainwright reissued a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a research report on Friday, March 7th. Wells Fargo & Company began coverage on Relay Therapeutics in a research report on Thursday, April 17th. They set an “equal weight” rating and a $4.00 price objective on the stock. Finally, Stifel Nicolaus reduced their target price on shares of Relay Therapeutics from $27.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Relay Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.36.

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.