Relay Therapeutics (NASDAQ:RLAY) CEO Sanjiv Patel Sells 48,199 Shares of Stock

Key Points

• Relay Therapeutics CEO Sanjiv Patel sold 48,199 shares at an average price of $18.94, generating approximately $912,889. After the transaction, he retained 519,500 shares, an 8.49% reduction in his ownership.
• RLAY shares fell 2.4% to $18.66 during mid-day trading, while the company’s latest quarterly results missed expectations, reporting a loss of $0.41 per share versus the $0.39 consensus estimate.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $25.92, although one analyst maintains a sell rating.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CEO Sanjiv Patel sold 48,199 shares of the company's stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $18.94, for a total transaction of $912,889.06. Following the transaction, the chief executive officer owned 519,500 shares of the company's stock, valued at $9,839,330. This trade represents a 8.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Tuesday, July 7th, Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock. The stock was sold at an average price of $19.58, for a total value of $943,736.42.

Relay Therapeutics Stock Down 2.4%

Shares of RLAY stock traded down $0.45 during mid-day trading on Wednesday, reaching $18.66. 5,942,384 shares of the stock traded hands, compared to its average volume of 3,175,174. The company has a market cap of $4.09 billion, a price-to-earnings ratio of -11.89 and a beta of 1.69. The stock's fifty day simple moving average is $19.35 and its two-hundred day simple moving average is $15.27. Relay Therapeutics, Inc. has a 1-year low of $3.87 and a 1-year high of $21.27.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.96 million. On average, equities research analysts anticipate that Relay Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the company. JonesTrading raised Relay Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Canaccord Genuity Group assumed coverage on Relay Therapeutics in a research report on Thursday, July 16th. They set a "buy" rating and a $29.00 price objective for the company. The Goldman Sachs Group lifted their price objective on Relay Therapeutics from $22.00 to $31.00 and gave the stock a "buy" rating in a research note on Tuesday, July 21st. Weiss Ratings reiterated a "sell (d-)" rating on shares of Relay Therapeutics in a report on Monday, July 6th. Finally, Citizens Jmp increased their target price on shares of Relay Therapeutics from $21.00 to $26.00 and gave the company a "market outperform" rating in a research report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Relay Therapeutics has a consensus rating of "Moderate Buy" and an average target price of $25.92.

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC grew its stake in Relay Therapeutics by 1.1% in the first quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company's stock valued at $1,431,000 after acquiring an additional 1,588 shares during the period. Abel Hall LLC raised its holdings in Relay Therapeutics by 16.2% during the fourth quarter. Abel Hall LLC now owns 12,984 shares of the company's stock worth $110,000 after buying an additional 1,809 shares during the last quarter. Allworth Financial LP acquired a new position in Relay Therapeutics during the second quarter worth $34,000. Cresset Asset Management LLC lifted its stake in shares of Relay Therapeutics by 5.0% in the third quarter. Cresset Asset Management LLC now owns 38,932 shares of the company's stock valued at $203,000 after buying an additional 1,848 shares in the last quarter. Finally, Prelude Capital Management LLC lifted its stake in shares of Relay Therapeutics by 18.7% in the third quarter. Prelude Capital Management LLC now owns 19,700 shares of the company's stock valued at $103,000 after buying an additional 3,100 shares in the last quarter. 96.98% of the stock is owned by institutional investors.

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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