Key Points
- Relay Therapeutics CFO Thomas Catinazzo sold 17,717 shares on May 14 at an average price of $12.86, for proceeds of about $227,840. The sale reduced his direct stake by 8.32% to 195,178 shares.
- The stock fell 3.3% and opened at $12.78, with shares trading well below their 52-week high of $17.32 but above the 52-week low of $2.67.
- Recent quarterly results missed expectations, with Relay reporting a loss of $0.41 per share on $3.0 million in revenue versus analyst estimates for a smaller loss and higher revenue. Despite that, analysts still have a consensus rating of Moderate Buy with an average target price of $20.56.
Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CFO Thomas Catinazzo sold 17,717 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $12.86, for a total transaction of $227,840.62. Following the sale, the chief financial officer directly owned 195,178 shares of the company's stock, valued at approximately $2,509,989.08. This trade represents a 8.32% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Thomas Catinazzo also recently made the following trade(s):
- On Tuesday, April 28th, Thomas Catinazzo sold 972 shares of Relay Therapeutics stock. The stock was sold at an average price of $14.79, for a total transaction of $14,375.88.
- On Tuesday, April 7th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The stock was sold at an average price of $13.01, for a total transaction of $230,498.17.
- On Thursday, April 9th, Thomas Catinazzo sold 1,800 shares of Relay Therapeutics stock. The shares were sold at an average price of $15.00, for a total transaction of $27,000.00.
Relay Therapeutics Stock Down 3.3%
Shares of NASDAQ:RLAY opened at $12.78 on Friday. Relay Therapeutics, Inc. has a 52-week low of $2.67 and a 52-week high of $17.32. The company has a 50 day moving average of $12.43 and a two-hundred day moving average of $9.52. The company has a market capitalization of $2.45 billion, a price-to-earnings ratio of -8.14 and a beta of 1.74.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.58 million. On average, equities analysts anticipate that Relay Therapeutics, Inc. will post -1.6 earnings per share for the current year.
Analysts Set New Price Targets
Several equities analysts have recently commented on RLAY shares. Citigroup reiterated an "outperform" rating on shares of Relay Therapeutics in a research note on Tuesday, April 28th. JonesTrading started coverage on Relay Therapeutics in a research note on Tuesday, April 14th. They issued a "hold" rating and a $18.00 target price on the stock. Barclays raised their target price on Relay Therapeutics from $17.00 to $21.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. HC Wainwright raised their target price on Relay Therapeutics from $19.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen cut Relay Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.56.
Get Our Latest Analysis on RLAY
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Affinity Asset Advisors LLC acquired a new position in shares of Relay Therapeutics during the first quarter valued at $3,980,000. Renaissance Technologies LLC grew its holdings in Relay Therapeutics by 4.0% during the first quarter. Renaissance Technologies LLC now owns 673,599 shares of the company's stock worth $6,702,000 after acquiring an additional 25,700 shares during the period. Gabelli Funds LLC acquired a new position in Relay Therapeutics during the first quarter worth about $119,000. Arrowstreet Capital Limited Partnership acquired a new position in Relay Therapeutics during the first quarter worth about $6,649,000. Finally, Sei Investments Co. grew its holdings in Relay Therapeutics by 41.0% during the first quarter. Sei Investments Co. now owns 36,130 shares of the company's stock worth $359,000 after acquiring an additional 10,500 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.
About Relay Therapeutics
(
Get Free Report)
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.
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