Relay Therapeutics (NASDAQ:RLAY) CFO Thomas Catinazzo Sells 1,469 Shares of Company Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 1,469 shares of the business’s stock in a transaction dated Wednesday, October 28th. The shares were sold at an average price of $18.62, for a total transaction of $27,352.78. Following the completion of the transaction, the chief financial officer owned 103,665 shares in the company, valued at approximately $1,930,242.30. The trade was a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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, October 6th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The shares were sold at an average price of $18.59, for a total transaction of $329,359.03.
• On Tuesday, September 8th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The stock was sold at an average price of $18.94, for a total transaction of $335,559.98.

Relay Therapeutics Trading Down 5.8%

NASDAQ:RLAY opened at $18.35 on Friday. The stock has a market capitalization of $4.02 billion, a PE ratio of -11.69 and a beta of 1.72. The firm’s 50 day moving average is $18.52 and its 200 day moving average is $14.95. Relay Therapeutics, Inc. has a 12 month low of $5.95 and a 12 month high of $21.27.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The business had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. Research analysts predict that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Guggenheim reiterated a “buy” rating on shares of Relay Therapeutics in a research note on Friday, August 7th. Citizens Jmp boosted their price objective on Relay Therapeutics from $21.00 to $26.00 and gave the company a “market outperform” rating in a research note on Monday, August 10th. Citigroup restated a “market outperform” rating on shares of Relay Therapeutics in a research note on Monday, August 10th. The Goldman Sachs Group upped their price objective on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Finally, Zacks Research upgraded shares of Relay Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.92.

Institutional Investors Weigh In On Relay Therapeutics

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Relay Therapeutics by 108.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,850 shares of the company’s stock worth $51,000 after buying an additional 1,482 shares during the last quarter. Sanctuary Advisors LLC increased its position in Relay Therapeutics by 1.1% during the 1st quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock valued at $1,431,000 after buying an additional 1,588 shares in the last quarter. Allworth Financial LP bought a new stake in Relay Therapeutics in the second quarter worth $34,000. ProShare Advisors LLC boosted its holdings in Relay Therapeutics by 8.0% in the third quarter. ProShare Advisors LLC now owns 30,462 shares of the company’s stock worth $550,000 after acquiring an additional 2,265 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in Relay Therapeutics during the 2nd quarter valued at about $62,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

About Relay Therapeutics

Relay Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines for cancer and other serious diseases. The company uses its Dynamo platform, which combines structural biology, computational modeling, machine learning and experimental science to study how proteins move and interact. Relay aims to use this approach to identify precisely targeted therapies, including medicines designed to bind to previously difficult-to-drug sites.

The company’s pipeline has primarily focused on oncology, including investigational small-molecule therapies directed at cancer-driving proteins and signaling pathways.