Sanjiv Patel Sells 61,379 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CEO Sanjiv Patel sold 61,379 shares of the 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 directly owned 765,288 shares in the company, valued at approximately $2,732,078.16. This trade represents a 7.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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 transaction of $182,423.34.

Relay Therapeutics Trading Down 2.1%

NASDAQ RLAY traded down $0.08 during trading on Thursday, hitting $3.73. 1,112,524 shares of the company's stock were exchanged, compared to its average volume of 2,079,871. The company has a market cap of $639.49 million, a PE ratio of -1.67 and a beta of 1.62. Relay Therapeutics, Inc. has a fifty-two week low of $1.78 and a fifty-two week high of $10.72. The stock's 50 day moving average price is $3.20 and its two-hundred day moving average price is $3.49.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported ($0.46) 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. The firm's revenue was down 23.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.62) EPS. Analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on RLAY shares. Wells Fargo & Company began coverage on Relay Therapeutics in a research note on Thursday, April 17th. They set an "equal weight" rating and a $4.00 target price for the company. Guggenheim cut their target price on Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Relay Therapeutics by 164.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 40,983 shares of the company's stock valued at $149,000 after buying an additional 25,511 shares during the period. Pallas Capital Advisors LLC acquired a new position in shares of Relay Therapeutics in the second quarter valued at approximately $86,000. Acadian Asset Management LLC increased its stake in shares of Relay Therapeutics by 2,256.1% in the first quarter. Acadian Asset Management LLC now owns 682,028 shares of the company's stock valued at $1,785,000 after buying an additional 653,081 shares during the period. Jane Street Group LLC increased its position in Relay Therapeutics by 47.6% during the 1st quarter. Jane Street Group LLC now owns 111,472 shares of the company's stock valued at $292,000 after purchasing an additional 35,962 shares during the period. Finally, Woodline Partners LP increased its position in Relay Therapeutics by 448.4% during the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company's stock valued at $3,979,000 after purchasing an additional 1,241,657 shares during the period. Institutional investors and hedge funds own 96.98% of the company's stock.

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.

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