Thomas Catinazzo Sells 972 Shares of Relay Therapeutics (NASDAQ:RLAY) Stock

Key Points

• CFO Thomas Catinazzo sold 972 shares on April 28 at an average price of $14.79 (total $14,375.88) to cover tax withholding from vested equity, leaving him with 212,895 shares (a 0.45% reduction).
• Catinazzo also made larger insider sales earlier in April — 17,717 shares on April 7 at $13.01 (≈$230,498) and 1,800 shares on April 9 at $15.00 (≈$27,000) — indicating multiple disposals during the month.
• Analysts have been raising targets and the consensus rating is a Moderate Buy with an average price target of $20.56, while institutional ownership is very high at approximately 96.98%, with several hedge funds recently building large positions.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CFO Thomas Catinazzo sold 972 shares of the company's stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $14.79, for a total value of $14,375.88. Following the sale, the chief financial officer owned 212,895 shares in the company, valued at approximately $3,148,717.05. The trade was a 0.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, April 7th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The shares were sold at an average price of $13.01, for a total value of $230,498.17.
• On Thursday, April 9th, Thomas Catinazzo sold 1,800 shares of Relay Therapeutics stock. The stock was sold at an average price of $15.00, for a total transaction of $27,000.00.

Relay Therapeutics Stock Up 3.1%

NASDAQ:RLAY traded up $0.39 during trading hours on Thursday, reaching $12.96. The company had a trading volume of 2,389,616 shares, compared to its average volume of 2,773,398. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of -8.00 and a beta of 1.57. The business's 50-day simple moving average is $11.79 and its two-hundred day simple moving average is $9.10. Relay Therapeutics, Inc. has a twelve month low of $2.67 and a twelve month high of $17.32.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, topping analysts' consensus estimates of ($0.38) by $0.06. The company had revenue of $7.00 million during the quarter, compared to analyst estimates of $4.34 million. As a group, equities analysts predict that Relay Therapeutics, Inc. will post -1.51 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RLAY. Commodore Capital LP acquired a new position in shares of Relay Therapeutics during the second quarter valued at about $46,191,000. Spruce Street Capital LP acquired a new position in shares of Relay Therapeutics during the fourth quarter valued at about $25,246,000. Perceptive Advisors LLC acquired a new position in shares of Relay Therapeutics during the fourth quarter valued at about $16,101,000. TCG Crossover Management LLC acquired a new position in shares of Relay Therapeutics during the third quarter valued at about $9,450,000. Finally, Casdin Capital LLC boosted its holdings in Relay Therapeutics by 14.7% during the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company's stock worth $110,010,000 after purchasing an additional 1,662,193 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on RLAY shares. Citizens Jmp raised their price target on shares of Relay Therapeutics from $17.00 to $19.00 and gave the stock a "market outperform" rating in a report on Tuesday. Weiss Ratings restated a "sell (d-)" rating on shares of Relay Therapeutics in a report on Wednesday, April 8th. Oppenheimer raised their price target on shares of Relay Therapeutics from $14.00 to $18.00 and gave the stock an "outperform" rating in a report on Tuesday. Citigroup reiterated an "outperform" rating on shares of Relay Therapeutics in a report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Relay Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $20.56.

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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