Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CEO Sanjiv Patel sold 61,379 shares of the company's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $3.57, for a total value of $219,123.03. Following the sale, the chief executive officer owned 765,288 shares of the company's stock, valued at approximately $2,732,078.16. The trade was a 7.42% 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.
Sanjiv Patel also recently made the following trade(s):
- On Wednesday, April 23rd, Sanjiv Patel sold 61,422 shares of Relay Therapeutics stock. The stock was sold at an average price of $2.97, for a total value of $182,423.34.
Relay Therapeutics Stock Performance
Shares of NASDAQ RLAY traded down $0.13 during midday trading on Friday, reaching $3.60. 1,034,389 shares of the company's stock were exchanged, compared to its average volume of 2,085,419. Relay Therapeutics, Inc. has a 52-week low of $1.78 and a 52-week high of $10.72. The stock has a market capitalization of $617.20 million, a PE ratio of -1.61 and a beta of 1.62. The business's fifty day moving average price is $3.22 and its two-hundred day moving average price is $3.47.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.50) by $0.04. The business had revenue of $7.68 million for the quarter, compared to analysts' expectations of $0.01 million. During the same period in the previous year, the firm posted ($0.62) earnings per share. The firm's revenue was down 23.0% compared to the same quarter last year. Analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Guggenheim dropped their price objective on 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 Relay Therapeutics in a report on Thursday, April 17th. They set an "equal weight" rating and a $4.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.67.
Read Our Latest Research Report on RLAY
Hedge Funds Weigh In On Relay Therapeutics
Hedge funds have recently bought and sold shares of the company. Murchinson Ltd. acquired a new position in Relay Therapeutics in the first quarter worth about $26,000. Steward Partners Investment Advisory LLC grew its stake in Relay Therapeutics by 160.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company's stock worth $27,000 after purchasing an additional 4,000 shares in the last quarter. DRW Securities LLC acquired a new position in Relay Therapeutics in the first quarter worth about $28,000. AssuredPartners Investment Advisors LLC acquired a new position in Relay Therapeutics in the first quarter worth about $29,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Relay Therapeutics in the first quarter worth about $41,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.
About Relay Therapeutics
(
Get Free Report)
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.
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