Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo Sells 18,380 Shares

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 stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $3.68, for a total value of $67,638.40. Following the transaction, the chief financial officer directly owned 335,295 shares of the company's stock, valued at $1,233,885.60. The trade was a 5.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

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

Relay Therapeutics Trading Down 4.5%

RLAY stock traded down $0.16 during midday trading on Friday, hitting $3.36. 2,789,533 shares of the company's stock were exchanged, compared to its average volume of 2,643,379. The business has a 50-day simple moving average of $3.42 and a two-hundred day simple moving average of $3.39. The stock has a market capitalization of $576.07 million, a PE ratio of -1.51 and a beta of 1.62. Relay Therapeutics, Inc. has a 1-year low of $1.77 and a 1-year high of $10.72.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Murchinson Ltd. purchased a new position in shares of Relay Therapeutics during the first quarter worth $26,000. FNY Investment Advisers LLC boosted its position in shares of Relay Therapeutics by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company's stock worth $34,000 after buying an additional 5,000 shares during the period. Stifel Financial Corp purchased a new position in shares of Relay Therapeutics during the fourth quarter worth $42,000. Twinbeech Capital LP purchased a new position in shares of Relay Therapeutics during the fourth quarter worth $42,000. Finally, DRW Securities LLC purchased a new position in shares of Relay Therapeutics during the first quarter worth $28,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

About Relay Therapeutics

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.