Relay Therapeutics (NASDAQ:RLAY) CEO Sells 48,199 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 48,199 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $18.94, for a total value of $912,889.06. Following the transaction, the chief executive officer directly owned 519,500 shares in the company, valued at $9,839,330. This represents a 8.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, July 7th, Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock. The stock was sold at an average price of $19.58, for a total transaction of $943,736.42.

Relay Therapeutics Price Performance

Shares of NASDAQ:RLAY traded down $0.45 on Wednesday, hitting $18.66. The company’s stock had a trading volume of 5,942,384 shares, compared to its average volume of 3,175,174. The company has a 50-day simple moving average of $19.35 and a 200 day simple moving average of $15.27. Relay Therapeutics, Inc. has a 1 year low of $3.87 and a 1 year high of $21.27. The company has a market capitalization of $4.09 billion, a PE ratio of -11.89 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The business had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.96 million. On average, equities research analysts expect that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Relay Therapeutics

Several large investors have recently made changes to their positions in RLAY. Sanctuary Advisors LLC grew its stake in shares of Relay Therapeutics by 1.1% in the 1st quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock worth $1,431,000 after buying an additional 1,588 shares during the last quarter. Abel Hall LLC boosted its holdings in Relay Therapeutics by 16.2% in the fourth quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock worth $110,000 after acquiring an additional 1,809 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of Relay Therapeutics in the second quarter worth $34,000. Cresset Asset Management LLC grew its stake in shares of Relay Therapeutics by 5.0% in the third quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock worth $203,000 after acquiring an additional 1,848 shares during the last quarter. Finally, Prelude Capital Management LLC increased its holdings in shares of Relay Therapeutics by 18.7% during the third quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock valued at $103,000 after acquiring an additional 3,100 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RLAY has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Canaccord Genuity Group started coverage on shares of Relay Therapeutics in a report on Thursday, July 16th. They issued a “buy” rating and a $29.00 price objective for the company. Raymond James Financial reiterated a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. UBS Group set a $26.00 target price on Relay Therapeutics in a research report on Tuesday, May 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.92.

About Relay Therapeutics

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.