Sanjiv Patel Sells 14,000 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAYGet Rating) CEO Sanjiv Patel sold 14,000 shares of Relay Therapeutics stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $23.47, for a total value of $328,580.00. Following the transaction, the chief executive officer now owns 254,554 shares in the company, valued at approximately $5,974,382.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Relay Therapeutics Trading Down 6.6 %

Shares of NASDAQ:RLAY opened at $23.42 on Friday. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of -9.15 and a beta of 1.24. The business has a 50-day moving average price of $21.95 and a 200 day moving average price of $22.28. Relay Therapeutics, Inc. has a 12-month low of $12.65 and a 12-month high of $38.15.

Wall Street Analyst Weigh In

RLAY has been the topic of several analyst reports. JMP Securities lifted their price target on Relay Therapeutics from $35.00 to $38.00 and gave the stock a “market outperform” rating in a report on Wednesday. The Goldman Sachs Group reduced their price target on Relay Therapeutics from $49.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, May 24th. Stifel Nicolaus initiated coverage on Relay Therapeutics in a report on Thursday, September 1st. They set a “buy” rating and a $40.00 price target on the stock. HC Wainwright raised their price objective on Relay Therapeutics from $46.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, September 12th. Finally, Jefferies Financial Group initiated coverage on Relay Therapeutics in a research report on Monday, June 6th. They set an “underperform” rating and a $13.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.50.

Hedge Funds Weigh In On Relay Therapeutics

Several institutional investors have recently bought and sold shares of RLAY. JPMorgan Chase & Co. grew its position in Relay Therapeutics by 136.0% in the 4th quarter. JPMorgan Chase & Co. now owns 3,367,312 shares of the company’s stock valued at $103,410,000 after acquiring an additional 1,940,330 shares in the last quarter. State Street Corp grew its position in Relay Therapeutics by 46.9% in the 2nd quarter. State Street Corp now owns 4,778,419 shares of the company’s stock valued at $80,039,000 after acquiring an additional 1,524,727 shares in the last quarter. Boxer Capital LLC grew its position in Relay Therapeutics by 106.2% in the 4th quarter. Boxer Capital LLC now owns 2,669,132 shares of the company’s stock valued at $81,969,000 after acquiring an additional 1,375,000 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Relay Therapeutics by 219.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 959,783 shares of the company’s stock valued at $16,076,000 after acquiring an additional 659,012 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Relay Therapeutics by 28.9% in the 4th quarter. Alliancebernstein L.P. now owns 1,745,627 shares of the company’s stock valued at $53,608,000 after acquiring an additional 391,364 shares in the last quarter.

Relay Therapeutics Company Profile

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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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