Relay Therapeutics (NASDAQ:RLAY) CEO Sells $943,736.42 in Stock

Key Points

• Relay Therapeutics CEO Sanjiv Patel sold 48,199 shares on July 7 for about $943,736 at an average price of $19.58. After the sale, he still held 615,898 shares, valued at roughly $12.06 million.
• The stock has been trading near its 52-week high, closing around $19.63 on Wednesday with a market cap of $3.76 billion. It is well above its 50-day and 200-day moving averages, though the company remains unprofitable.
• Wall Street sentiment is mostly positive, with several firms raising price targets and issuing Buy or Outperform ratings. The consensus analyst rating is “Buy,” with an average target price of $23.73.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CEO Sanjiv Patel sold 48,199 shares of the business's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total value of $943,736.42. Following the completion of the transaction, the chief executive officer directly owned 615,898 shares of the company's stock, valued at approximately $12,059,282.84. This trade represents a 7.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Relay Therapeutics Stock Performance

Relay Therapeutics stock traded down $0.11 during midday trading on Wednesday, reaching $19.63. 4,272,836 shares of the company were exchanged, compared to its average volume of 3,411,490. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of -12.50 and a beta of 1.67. The firm's 50-day simple moving average is $14.91 and its 200-day simple moving average is $11.72. Relay Therapeutics, Inc. has a 1 year low of $3.03 and a 1 year high of $20.20.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.06). The business had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.58 million. On average, analysts forecast that Relay Therapeutics, Inc. will post -1.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Torren Management LLC bought a new stake in Relay Therapeutics during the fourth quarter valued at $30,000. KBC Group NV bought a new stake in shares of Relay Therapeutics during the first quarter valued at approximately $34,000. Smartleaf Asset Management LLC grew its holdings in Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company's stock worth $37,000 after buying an additional 3,287 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Relay Therapeutics in the 4th quarter valued at approximately $46,000. Finally, Captrust Financial Advisors bought a new stake in Relay Therapeutics during the 2nd quarter valued at $49,000. 96.98% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RLAY. Citizens Jmp raised their target price on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a "market outperform" rating in a research report on Wednesday, May 20th. JPMorgan Chase & Co. assumed coverage on Relay Therapeutics in a report on Wednesday. They issued an "overweight" rating and a $28.00 price target for the company. Oppenheimer raised their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the stock an "outperform" rating in a report on Tuesday, April 28th. JonesTrading upgraded Relay Therapeutics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 19th. Finally, Guggenheim upped their target price on Relay Therapeutics from $22.00 to $26.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $23.73.

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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