Relay Therapeutics (NASDAQ:RLAY) CFO Thomas Catinazzo Sells 17,717 Shares of Company Stock

Key Points

• CFO Thomas Catinazzo sold 17,717 Relay Therapeutics shares at an average price of $18.59, generating $329,359.03 and reducing his direct holdings by 14.42% to 105,134 shares.
• Relay Therapeutics shares recently traded at $17.41, while the company reported a quarterly loss of $0.41 per share and $0.35 million in revenue, missing analyst expectations for both measures.
• Institutional investors own approximately 96.98% of the stock, and analysts maintain a “Moderate Buy” consensus with an average price target of $25.92, despite some sell ratings.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CFO Thomas Catinazzo sold 17,717 shares of the company's stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $18.59, for a total transaction of $329,359.03. Following the completion of the transaction, the chief financial officer directly owned 105,134 shares in the company, valued at $1,954,441.06. The trade was a 14.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 transaction 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 transaction of $27,151.99.

Relay Therapeutics Stock Performance

Shares of Relay Therapeutics stock traded down $0.54 on Thursday, reaching $17.41. The company had a trading volume of 4,332,079 shares, compared to its average volume of 3,213,835. The firm's 50 day moving average price is $19.12 and its two-hundred day moving average price is $16.56. Relay Therapeutics, Inc. has a 52-week low of $5.85 and a 52-week high of $21.27. The firm has a market cap of $3.82 billion, a PE ratio of -11.09 and a beta of 1.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.02). The company had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.96 million. As a group, sell-side analysts predict that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Institutional Investors Weigh In On Relay Therapeutics

A number of large investors have recently modified their holdings of RLAY. BlackRock Inc. acquired a new stake in shares of Relay Therapeutics in the 2nd quarter valued at $286,042,000. Casdin Capital LLC raised its stake in Relay Therapeutics by 14.7% in the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company's stock valued at $110,010,000 after buying an additional 1,662,193 shares in the last quarter. Perceptive Advisors LLC lifted 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 worth $97,024,000 after buying an additional 7,847,896 shares during the last quarter. Spruce Street Capital LP acquired a new position in shares of Relay Therapeutics during the 4th quarter worth about $25,246,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Relay Therapeutics by 18.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,940,536 shares of the company's stock valued at $29,248,000 after acquiring an additional 460,186 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RLAY has been the subject of several recent research reports. Wall Street Zen lowered shares of Relay Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. increased their target price on shares of Relay Therapeutics from $28.00 to $31.00 and gave the stock an "overweight" rating in a report on Friday, August 14th. Citizens Jmp raised their price target 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. Weiss Ratings restated a "sell (d-)" rating on shares of Relay Therapeutics in a research note on Friday, October 2nd. Finally, Barclays upped their price objective on Relay Therapeutics from $27.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Two equities 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $25.92.

Relay Therapeutics Company Profile

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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