Relay Therapeutics (NASDAQ:RLAY) CEO Sanjiv Patel Sells 48,199 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 48,199 shares of the business’s stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $18.10, for a total value of $872,401.90. Following the sale, the chief executive officer directly owned 471,301 shares of the company’s stock, valued at approximately $8,530,548.10. This trade represents a 9.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, September 8th, Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock. The shares were sold at an average price of $18.94, for a total value of $912,889.06.

Relay Therapeutics Trading Down 3.0%

Shares of RLAY stock opened at $17.41 on Friday. The firm has a fifty day simple moving average of $19.08 and a 200-day simple moving average of $16.61. The company has a market capitalization of $3.82 billion, a PE ratio of -11.09 and a beta of 1.72. Relay Therapeutics, Inc. has a twelve month low of $5.85 and a twelve month high of $21.27.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The business had revenue of $0.35 million for the quarter, compared to analysts’ expectations of $0.96 million. Equities research analysts predict that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently bought and sold shares of RLAY. BlackRock Inc. bought a new stake in shares of Relay Therapeutics in the 2nd quarter valued at about $286,042,000. Casdin Capital LLC boosted its stake in Relay Therapeutics by 14.7% during the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock worth $110,010,000 after acquiring an additional 1,662,193 shares during the last quarter. Perceptive Advisors LLC increased its stake in 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 purchasing an additional 7,847,896 shares in the last quarter. Spruce Street Capital LP bought a new position in shares of Relay Therapeutics during the fourth quarter worth $25,246,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Relay Therapeutics by 18.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,940,536 shares of the company’s stock valued at $29,248,000 after buying an additional 460,186 shares during the period. 96.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RLAY has been the topic of several recent analyst reports. Barclays boosted their price objective on Relay Therapeutics from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wall Street Zen cut Relay Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Guggenheim reissued a “buy” rating on shares of Relay Therapeutics in a research report on Friday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Relay Therapeutics from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Finally, Zacks Research raised shares of Relay Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

About Relay Therapeutics

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing medicines for diseases driven by genetically defined targets, particularly in oncology. The company uses its proprietary Dynamo platform, which combines structural biology, computational modeling, machine learning and medicinal chemistry to study how proteins move and to identify potential drug-binding sites that may be difficult to address with conventional approaches.

Relay’s pipeline has included targeted cancer therapies such as RLY-2608, an investigational oral inhibitor designed to selectively target PI3K-alpha mutations, and RLY-4008 (lirafugratinib), an investigational FGFR2 inhibitor developed for cancers with specific FGFR2 alterations.