Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sells $894,600.00 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAYGet Rating) CEO Sanjiv Patel sold 28,000 shares of Relay Therapeutics stock in a transaction dated Wednesday, April 13th. The shares were sold at an average price of $31.95, for a total transaction of $894,600.00. Following the sale, the chief executive officer now owns 253,740 shares in the company, valued at $8,106,993. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of NASDAQ RLAY opened at $30.74 on Friday. The business has a 50 day simple moving average of $25.65 and a 200 day simple moving average of $28.38. Relay Therapeutics, Inc. has a 52 week low of $19.05 and a 52 week high of $38.60.

Relay Therapeutics (NASDAQ:RLAYGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.60) by $0.96. The business had revenue of $0.57 million during the quarter. Relay Therapeutics had a negative return on equity of 36.49% and a negative net margin of 12,012.94%. As a group, equities analysts forecast that Relay Therapeutics, Inc. will post -2.46 earnings per share for the current year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in shares of Relay Therapeutics in the 3rd quarter valued at approximately $27,000. Nisa Investment Advisors LLC grew its stake in shares of Relay Therapeutics by 129.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,586 shares of the company’s stock valued at $57,000 after buying an additional 1,457 shares in the last quarter. Strs Ohio bought a new stake in shares of Relay Therapeutics in the 3rd quarter valued at approximately $97,000. Royal Bank of Canada grew its stake in shares of Relay Therapeutics by 10.3% in the 2nd quarter. Royal Bank of Canada now owns 4,153 shares of the company’s stock valued at $152,000 after buying an additional 388 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its holdings in Relay Therapeutics by 14,016.7% in the 3rd quarter. Dark Forest Capital Management LP now owns 4,235 shares of the company’s stock worth $134,000 after purchasing an additional 4,205 shares during the last quarter. 83.43% of the stock is owned by institutional investors and hedge funds.

RLAY has been the topic of several research reports. Berenberg Bank initiated coverage on shares of Relay Therapeutics in a research report on Tuesday, February 1st. They issued a “buy” rating and a $45.00 price target on the stock. Zacks Investment Research downgraded Relay Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, January 13th. Finally, Guggenheim cut their price objective on Relay Therapeutics from $52.00 to $45.00 in a report on Monday, January 3rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $46.43.

Relay Therapeutics Company Profile (Get Rating)

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 RLY-1971, an oral small molecule inhibitor of protein tyrosine phosphatase Src homology region 2 domain-containing phosphatase-2 that is in Phase 1 trial in patients with advanced solid tumors.

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