Relay Therapeutics (NASDAQ:RLAY) CFO Sells 1,469 Shares of Stock

Key Points

• Relay Therapeutics CFO Thomas Catinazzo sold 1,469 shares at an average price of $18.62, totaling $27,352.78. The sale covered tax-withholding obligations from vested equity awards and reduced his ownership by 1.4% to 103,665 shares.
• RLAY shares traded at $18.35, giving the company a market capitalization of approximately $4.02 billion. The stock has ranged from $5.95 to $21.27 over the past year, while its latest quarterly results missed analyst expectations.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a target price of $25.92, although ratings range from Strong Buy to Sell. Institutional investors and hedge funds own approximately 96.98% of the company.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CFO Thomas Catinazzo sold 1,469 shares of the firm's stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $18.62, for a total value of $27,352.78. Following the completion of the transaction, the chief financial officer directly owned 103,665 shares in the company, valued at $1,930,242.30. This trade represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, October 6th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The shares were sold at an average price of $18.59, for a total value of $329,359.03.
• 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.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY traded down $1.12 during mid-day trading on Friday, hitting $18.35. 3,595,892 shares of the company traded hands, compared to its average volume of 3,131,055. The firm's 50 day simple moving average is $18.54 and its 200 day simple moving average is $14.90. The firm has a market cap of $4.02 billion, a P/E ratio of -11.69 and a beta of 1.72. Relay Therapeutics, Inc. has a 52-week low of $5.95 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 for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.02). The business had revenue of $0.35 million during the quarter, compared to analysts' expectations of $0.96 million. Equities research analysts expect that Relay Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Analysts Set New Price Targets

RLAY has been the topic of a number of recent analyst reports. Citigroup reiterated a "market outperform" rating on shares of Relay Therapeutics in a report on Monday, August 10th. Guggenheim restated a "buy" rating on shares of Relay Therapeutics in a research note on Friday, August 7th. Zacks Research upgraded Relay Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Relay Therapeutics in a research note on Friday, October 2nd. Finally, Wall Street Zen cut Relay Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Two research 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. Based on data from MarketBeat.com, Relay Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $25.92.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in Relay Therapeutics by 108.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,850 shares of the company's stock valued at $51,000 after acquiring an additional 1,482 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in Relay Therapeutics by 1.1% during the first quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company's stock valued at $1,431,000 after purchasing an additional 1,588 shares during the last quarter. Allworth Financial LP bought a new stake in Relay Therapeutics during the second quarter worth approximately $34,000. ProShare Advisors LLC boosted its holdings in Relay Therapeutics by 8.0% during the third quarter. ProShare Advisors LLC now owns 30,462 shares of the company's stock worth $550,000 after buying an additional 2,265 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in Relay Therapeutics during the second quarter worth approximately $62,000. 96.98% of the stock is owned by institutional investors and hedge funds.

About Relay Therapeutics

Relay Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines for cancer and other serious diseases. The company uses its Dynamo platform, which combines structural biology, computational modeling, machine learning and experimental science to study how proteins move and interact. Relay aims to use this approach to identify precisely targeted therapies, including medicines designed to bind to previously difficult-to-drug sites.

The company's pipeline has primarily focused on oncology, including investigational small-molecule therapies directed at cancer-driving proteins and signaling pathways.

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