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

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 17,717 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $18.59, for a total value of $329,359.03. Following the completion of the sale, the chief financial officer owned 105,134 shares in the company, valued at $1,954,441.06. This represents a 14.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, September 8th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The shares were sold at an average price of $18.94, for a total value of $335,559.98.
• On Tuesday, July 28th, Thomas Catinazzo sold 1,459 shares of Relay Therapeutics stock. The stock was sold at an average price of $18.61, for a total value of $27,151.99.

Relay Therapeutics Trading Down 3.0%

Shares of RLAY stock opened at $17.41 on Friday. The firm has a 50-day moving average price of $19.08 and a 200 day moving average price of $16.61. Relay Therapeutics, Inc. has a twelve month low of $5.85 and a twelve month high of $21.27. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -11.09 and a beta of 1.72.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The firm had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.96 million. As a group, research analysts predict that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Relay Therapeutics in the 2nd quarter valued at about $286,042,000. Casdin Capital LLC grew its holdings in shares of Relay Therapeutics by 14.7% during the 4th 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 period. Perceptive Advisors LLC increased its position in Relay Therapeutics by 412.3% during the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after purchasing an additional 7,847,896 shares in the last quarter. Spruce Street Capital LP acquired a new stake in Relay Therapeutics during the 4th quarter worth approximately $25,246,000. Finally, Dimensional Fund Advisors LP raised its holdings in Relay Therapeutics by 18.6% in the first quarter. Dimensional Fund Advisors LP now owns 2,940,536 shares of the company’s stock valued at $29,248,000 after buying an additional 460,186 shares during the period. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on RLAY. The Goldman Sachs Group raised their price target on Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Citigroup reaffirmed a “market outperform” rating on shares of Relay Therapeutics in a research note on Monday, August 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, October 2nd. Canaccord Genuity Group started coverage on shares of Relay Therapeutics in a report on Thursday, July 16th. They issued a “buy” rating and a $29.00 target price for the company. Finally, Barclays upped their price target on shares of Relay Therapeutics from $27.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.92.

About Relay Therapeutics

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on discovering and developing medicines for diseases driven by genetically defined targets, particularly in oncology. The company uses its proprietary Dynamo platform, which combines structural biology, computational modeling, machine learning and medicinal chemistry to study how proteins move and to identify potential drug-binding sites that may be difficult to address with conventional approaches.

Relay’s pipeline has included targeted cancer therapies such as RLY-2608, an investigational oral inhibitor designed to selectively target PI3K-alpha mutations, and RLY-4008 (lirafugratinib), an investigational FGFR2 inhibitor developed for cancers with specific FGFR2 alterations.