Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel Sells 28,000 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAYGet Rating) CEO Sanjiv Patel sold 28,000 shares of the firm’s stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $20.87, for a total transaction of $584,360.00. Following the completion of the transaction, the chief executive officer now owns 254,554 shares in the company, valued at $5,312,541.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

  • On Thursday, November 10th, Sanjiv Patel sold 28,000 shares of Relay Therapeutics stock. The shares were sold at an average price of $20.00, for a total transaction of $560,000.00.
  • On Tuesday, November 8th, Sanjiv Patel sold 14,000 shares of Relay Therapeutics stock. The stock was sold at an average price of $20.18, for a total value of $282,520.00.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $20.58 on Friday. Relay Therapeutics, Inc. has a one year low of $12.65 and a one year high of $35.36. The stock has a fifty day moving average price of $17.42 and a 200 day moving average price of $20.26. The stock has a market cap of $2.49 billion, a P/E ratio of -7.74 and a beta of 1.01.

Relay Therapeutics (NASDAQ:RLAYGet Rating) last released its quarterly earnings data on Thursday, November 3rd. The company reported ($0.76) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.05). Relay Therapeutics had a negative return on equity of 21.42% and a negative net margin of 17,136.40%. The business had revenue of $0.34 million for the quarter, compared to the consensus estimate of $0.50 million. Equities research analysts anticipate that Relay Therapeutics, Inc. will post -2.81 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of Relay Therapeutics by 50.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 4,942,262 shares of the company’s stock valued at $82,784,000 after purchasing an additional 1,667,873 shares during the period. Alphabet Inc. acquired a new stake in Relay Therapeutics in the 3rd quarter valued at $35,093,000. State Street Corp grew its position in Relay Therapeutics by 46.9% in the second 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 during the period. Vanguard Group Inc. raised its stake in Relay Therapeutics by 17.8% during the third quarter. Vanguard Group Inc. now owns 8,359,520 shares of the company’s stock worth $187,003,000 after acquiring an additional 1,261,066 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Relay Therapeutics by 219.1% during the second 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 during the period.

Analysts Set New Price Targets

Several analysts recently weighed in on RLAY shares. Barclays initiated coverage on Relay Therapeutics in a research note on Friday, September 30th. They set an “equal weight” rating and a $23.00 target price for the company. HC Wainwright lowered their price objective on shares of Relay Therapeutics from $50.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, November 7th. Finally, JMP Securities cut their target price on shares of Relay Therapeutics from $38.00 to $28.00 and set a “market outperform” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $33.43.

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.

Further Reading

Insider Buying and Selling by Quarter for Relay Therapeutics (NASDAQ:RLAY)

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