Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Sells $67,638.40 in Stock

Key Points

• Relay Therapeutics CFO Thomas Catinazzo sold 18,380 shares at an average price of $3.68, totaling approximately $67,638.40, which reflects a 5.20% decrease in his ownership since he now holds 335,295 shares valued at $1,233,885.60.
• The company reported a quarterly revenue of $7.68 million but experienced a 23.0% decline compared to the previous year, alongside an earnings per share of ($0.46), which exceeded analysts' expectations.
• Relay Therapeutics has garnered institutional backing with hedge funds owning 96.98% of its stock, while analysts have maintained a "Moderate Buy" rating with an average price target of $17.67.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CFO Thomas Catinazzo sold 18,380 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $3.68, for a total transaction of $67,638.40. Following the completion of the sale, the chief financial officer directly owned 335,295 shares of the company's stock, valued at approximately $1,233,885.60. This represents a 5.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, July 28th, Thomas Catinazzo sold 1,701 shares of Relay Therapeutics stock. The stock was sold at an average price of $3.74, for a total transaction of $6,361.74.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY traded down $0.16 during midday trading on Friday, reaching $3.36. 2,789,533 shares of the stock were exchanged, compared to its average volume of 2,326,051. The business has a 50-day simple moving average of $3.41 and a two-hundred day simple moving average of $3.40. The company has a market capitalization of $576.06 million, a price-to-earnings ratio of -1.51 and a beta of 1.62. Relay Therapeutics, Inc. has a 12 month low of $1.77 and a 12 month high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.46) earnings per share for the quarter, topping analysts' consensus estimates of ($0.50) by $0.04. The firm had revenue of $7.68 million for the quarter, compared to the consensus estimate of $0.01 million. The company's revenue for the quarter was down 23.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.62) earnings per share. Equities research analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Guggenheim lowered their target price on shares of Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company assumed coverage on shares of Relay Therapeutics in a report on Thursday, April 17th. They set an "equal weight" rating and a $4.00 target price for the company. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $17.67.

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Relay Therapeutics in the 4th quarter valued at $779,000. Thrivent Financial for Lutherans lifted its position in Relay Therapeutics by 3.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 166,668 shares of the company's stock valued at $687,000 after acquiring an additional 6,210 shares in the last quarter. Teacher Retirement System of Texas lifted its position in Relay Therapeutics by 19.5% in the 4th quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company's stock valued at $139,000 after acquiring an additional 5,492 shares in the last quarter. American Century Companies Inc. lifted its position in Relay Therapeutics by 23.3% in the 4th quarter. American Century Companies Inc. now owns 272,166 shares of the company's stock valued at $1,121,000 after acquiring an additional 51,499 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Relay Therapeutics in the 4th quarter valued at $102,000. 96.98% of the stock is owned by institutional investors.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company's lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors.