Insider Selling: Relay Therapeutics (NASDAQ:RLAY) CFO Sells 17,717 Shares of Stock

Key Points

• Relay Therapeutics CFO Thomas Catinazzo sold 17,717 shares at an average price of $18.94, totaling approximately $335,560. After the transaction, he directly owned 122,851 shares, a 12.6% reduction in his holdings.
• RLAY shares fell 2.4% to $18.66, while the company reported a quarterly loss of $0.41 per share, missing the $0.39 consensus estimate; revenue also came in below expectations.
• Institutional investors own 96.98% of Relay Therapeutics, and analysts maintain a “Moderate Buy” consensus 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 that occurred on Tuesday, September 8th. The shares were sold at an average price of $18.94, for a total value of $335,559.98. Following the completion of the transaction, the chief financial officer directly owned 122,851 shares in the company, valued at $2,326,797.94. This trade represents a 12.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Thomas Catinazzo also recently made the following trade(s):

• On Tuesday, July 28th, Thomas Catinazzo sold 1,459 shares of Relay Therapeutics stock. The stock was sold at an average price of $18.61, for a total value of $27,151.99.
• On Monday, July 6th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The shares were sold at an average price of $18.69, for a total transaction of $331,130.73.
• On Monday, June 22nd, Thomas Catinazzo sold 187,163 shares of Relay Therapeutics stock. The shares were sold at an average price of $16.97, for a total transaction of $3,176,156.11.

Relay Therapeutics Trading Down 2.4%

RLAY stock traded down $0.45 during trading on Wednesday, reaching $18.66. The stock had a trading volume of 5,942,384 shares, compared to its average volume of 3,175,174. The firm has a market cap of $4.09 billion, a PE ratio of -11.89 and a beta of 1.69. The stock's 50 day moving average is $19.35 and its two-hundred day moving average is $15.27. Relay Therapeutics, Inc. has a 52 week low of $3.87 and a 52 week high of $21.27.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The business 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 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. bought a new position in Relay Therapeutics during the second quarter valued at $286,042,000. Commodore Capital LP purchased a new position in shares of Relay Therapeutics during the 2nd quarter worth about $46,191,000. Casdin Capital LLC boosted its stake in shares of Relay Therapeutics by 14.7% during the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company's stock worth $110,010,000 after purchasing an additional 1,662,193 shares during the period. Perceptive Advisors LLC grew its holdings in Relay Therapeutics by 412.3% during the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company's stock valued at $97,024,000 after purchasing an additional 7,847,896 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in Relay Therapeutics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company's stock valued at $81,990,000 after purchasing an additional 295,701 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on RLAY shares. UBS Group set a $26.00 target price on shares of Relay Therapeutics in a report on Tuesday, May 19th. JonesTrading raised shares of Relay Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Guggenheim reaffirmed a "buy" rating on shares of Relay Therapeutics in a report on Friday, August 7th. JPMorgan Chase & Co. upped their price objective on Relay Therapeutics from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Friday, August 14th. Finally, Canaccord Genuity Group started coverage on shares of Relay Therapeutics in a research note on Thursday, July 16th. They set a "buy" rating and a $29.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.92.

About Relay Therapeutics

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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