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

Key Points

• Relay Therapeutics CFO Thomas Catinazzo sold 17,717 shares on July 6 at an average price of $18.69, generating about $331,131 and reducing his ownership by 9.98%.
• The CFO has also made several other recent sales, including a much larger sale of 187,163 shares on June 22, suggesting repeated insider selling activity over the past few months.
• Wall Street remains broadly positive on RLAY despite recent losses: analysts currently rate the stock a consensus “Buy” with a $23.73 price target, while the company’s latest earnings missed expectations.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CFO Thomas Catinazzo sold 17,717 shares of the business's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $18.69, for a total transaction of $331,130.73. Following the sale, the chief financial officer owned 159,744 shares of the company's stock, valued at $2,985,615.36. This trade represents a 9.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, June 22nd, Thomas Catinazzo sold 187,163 shares of Relay Therapeutics stock. The shares were sold at an average price of $16.97, for a total transaction of $3,176,156.11.
• On Thursday, May 14th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The stock was sold at an average price of $12.86, for a total transaction of $227,840.62.
• On Tuesday, April 28th, Thomas Catinazzo sold 972 shares of Relay Therapeutics stock. The stock was sold at an average price of $14.79, for a total transaction of $14,375.88.
• On Thursday, April 9th, Thomas Catinazzo sold 1,800 shares of Relay Therapeutics stock. The shares were sold at an average price of $15.00, for a total transaction of $27,000.00.

Relay Therapeutics Price Performance

Shares of NASDAQ:RLAY traded down $0.11 during midday trading on Wednesday, hitting $19.63. The company had a trading volume of 4,272,836 shares, compared to its average volume of 3,411,490. The company has a market cap of $3.76 billion, a price-to-earnings ratio of -12.50 and a beta of 1.67. Relay Therapeutics, Inc. has a 12-month low of $3.03 and a 12-month high of $20.20. The company has a fifty day moving average of $14.91 and a two-hundred day moving average of $11.72.

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

Institutional Trading of Relay Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Seven Fleet Capital Management LP boosted its stake in Relay Therapeutics by 253.1% in the 1st quarter. Seven Fleet Capital Management LP now owns 257,738 shares of the company's stock worth $2,564,000 after purchasing an additional 184,738 shares during the period. Perceptive Advisors LLC raised its position in shares of Relay Therapeutics by 412.3% during the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company's stock valued at $97,024,000 after buying an additional 7,847,896 shares during the last quarter. Bank of America Corp DE raised its position in shares of Relay Therapeutics by 86.1% during the first quarter. Bank of America Corp DE now owns 1,937,695 shares of the company's stock valued at $19,280,000 after buying an additional 896,746 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Relay Therapeutics by 77.8% in the first quarter. Janus Henderson Group PLC now owns 65,573 shares of the company's stock worth $652,000 after buying an additional 28,700 shares in the last quarter. Finally, Amundi purchased a new position in shares of Relay Therapeutics in the first quarter worth $213,000. Institutional investors own 96.98% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on RLAY shares. Wells Fargo & Company boosted their price objective on Relay Therapeutics from $17.00 to $21.00 and gave the company an "overweight" rating in a research note on Tuesday, April 28th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Relay Therapeutics in a research report on Monday. HC Wainwright increased their price objective on shares of Relay Therapeutics from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Finally, UBS Group set a $26.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target 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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