Relay Therapeutics (NASDAQ:RLAY) CFO Thomas Catinazzo Sells 1,459 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 1,459 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total transaction of $27,151.99. Following the completion of the sale, the chief financial officer directly owned 158,285 shares of the company’s stock, valued at $2,945,683.85. This represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Monday, July 6th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The shares were sold at an average price of $18.69, for a total transaction of $331,130.73.
• On Monday, June 22nd, Thomas Catinazzo sold 187,163 shares of Relay Therapeutics stock. The shares were sold at an average price of $16.97, for a total transaction of $3,176,156.11.
• On Thursday, May 14th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The shares were sold at an average price of $12.86, for a total transaction of $227,840.62.

Relay Therapeutics Price Performance

NASDAQ:RLAY traded up $1.08 during trading hours on Thursday, reaching $19.45. The company’s stock had a trading volume of 1,865,442 shares, compared to its average volume of 3,307,066. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -12.39 and a beta of 1.67. Relay Therapeutics, Inc. has a one year low of $3.03 and a one year high of $20.79. The business’s 50-day moving average is $16.94 and its 200-day moving average is $12.95.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.58 million. On average, sell-side analysts predict that Relay Therapeutics, Inc. will post -1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Relay Therapeutics

Several large investors have recently made changes to their positions in RLAY. Tema ETFs LLC boosted its stake in Relay Therapeutics by 14.7% during the 2nd quarter. Tema ETFs LLC now owns 176,782 shares of the company’s stock valued at $3,308,000 after purchasing an additional 22,682 shares during the period. Handelsbanken Fonder AB bought a new position in Relay Therapeutics in the 2nd quarter worth approximately $1,106,000. Seven Fleet Capital Management LP lifted its holdings in shares of Relay Therapeutics by 253.1% during the first quarter. Seven Fleet Capital Management LP now owns 257,738 shares of the company’s stock worth $2,564,000 after buying an additional 184,738 shares during the last quarter. Perceptive Advisors LLC boosted its position in shares of Relay Therapeutics by 412.3% in the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after acquiring an additional 7,847,896 shares during the period. Finally, Bank of America Corp DE grew its stake in shares of Relay Therapeutics by 86.1% in the first quarter. Bank of America Corp DE now owns 1,937,695 shares of the company’s stock worth $19,280,000 after acquiring an additional 896,746 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RLAY. Oppenheimer raised their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Barclays upped their target price on Relay Therapeutics from $21.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Raymond James Financial reissued a “strong-buy” rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Zacks Research lowered shares of Relay Therapeutics from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of Relay Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.92.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.