Key Points
- CEO Sanjiv Patel sold 48,199 Relay Therapeutics shares at an average price of $18.10, generating $872,401.90 and reducing his ownership by 9.28% to 471,301 shares.
- Relay Therapeutics recently missed quarterly expectations, reporting an adjusted loss of $0.41 per share versus the expected $0.39 loss and revenue of $0.35 million versus estimates of $0.96 million.
- Despite the insider sale and earnings miss, institutional investors own 96.98% of the stock, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $25.92.
Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CFO Thomas Catinazzo sold 17,717 shares of the company's stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $18.59, for a total transaction of $329,359.03. Following the sale, the chief financial officer directly owned 105,134 shares of the company's stock, valued at approximately $1,954,441.06. This trade represents a 14.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Thomas Catinazzo also recently made the following trade(s):
- On Tuesday, September 8th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The shares were sold at an average price of $18.94, for a total value of $335,559.98.
- On Tuesday, July 28th, Thomas Catinazzo sold 1,459 shares of Relay Therapeutics stock. The shares were sold at an average price of $18.61, for a total value of $27,151.99.
Relay Therapeutics Price Performance
Shares of RLAY opened at $17.41 on Friday. The stock's 50-day moving average is $19.08 and its two-hundred day moving average is $16.61. The stock has a market cap of $3.82 billion, a PE ratio of -11.09 and a beta of 1.72. Relay Therapeutics, Inc. has a 12 month low of $5.85 and a 12 month high of $21.27.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.02). The firm had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. On average, research analysts anticipate that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.
Institutional Investors Weigh In On Relay Therapeutics
Several hedge funds and other institutional investors have recently bought and sold shares of RLAY. California State Teachers Retirement System boosted its stake in shares of Relay Therapeutics by 47.9% during the 1st quarter. California State Teachers Retirement System now owns 174,099 shares of the company's stock valued at $1,732,000 after buying an additional 56,422 shares during the last quarter. Alphabet Inc. bought a new stake in shares of Relay Therapeutics in the second quarter worth $26,382,000. Persistent Asset Partners Ltd bought a new stake in shares of Relay Therapeutics in the second quarter worth $1,323,000. Sanctuary Advisors LLC acquired a new stake in Relay Therapeutics in the second quarter valued at $1,995,000. Finally, Bank of America Corp DE raised its holdings in Relay Therapeutics by 86.1% in the first quarter. Bank of America Corp DE now owns 1,937,695 shares of the company's stock valued at $19,280,000 after acquiring an additional 896,746 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
RLAY has been the subject of several recent research reports. Wall Street Zen downgraded shares of Relay Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, August 15th. Weiss Ratings restated a "sell (d-)" rating on shares of Relay Therapeutics in a research note on Friday, October 2nd. Zacks Research raised shares of Relay Therapeutics from a "strong sell" rating to a "hold" rating in a report on Thursday, August 20th. Guggenheim reaffirmed a "buy" rating on shares of Relay Therapeutics in a research note on Friday, August 7th. Finally, Citizens Jmp boosted their price objective on shares of Relay Therapeutics from $21.00 to $26.00 and gave the stock a "market outperform" rating in a report on Monday, August 10th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $25.92.
View Our Latest Research Report on Relay Therapeutics
About Relay Therapeutics
(
Get Free Report)
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.
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