Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sells $539,700.70 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 140,182 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total transaction of $539,700.70. Following the transaction, the chief executive officer now owns 625,948 shares in the company, valued at $2,409,899.80. The trade was a 18.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Sanjiv Patel also recently made the following trade(s):

• On Thursday, February 13th, Sanjiv Patel sold 75,324 shares of Relay Therapeutics stock. The shares were sold at an average price of $3.70, for a total transaction of $278,698.80.
• On Wednesday, January 22nd, Sanjiv Patel sold 125,000 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.80, for a total transaction of $600,000.00.
• On Monday, December 16th, Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock. The shares were sold at an average price of $5.00, for a total transaction of $500,000.00.

Relay Therapeutics Stock Performance

NASDAQ RLAY opened at $4.00 on Friday. The firm’s 50 day moving average price is $4.44 and its 200-day moving average price is $5.75. Relay Therapeutics, Inc. has a 52-week low of $3.50 and a 52-week high of $11.16. The company has a market cap of $669.53 million, a PE ratio of -1.53 and a beta of 1.61.

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted its stake in shares of Relay Therapeutics by 160.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 6,500 shares of the company’s stock valued at $27,000 after purchasing an additional 4,000 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Relay Therapeutics during the third quarter valued at approximately $63,000. Portland Investment Counsel Inc. purchased a new stake in Relay Therapeutics during the third quarter valued at approximately $71,000. Stifel Financial Corp purchased a new stake in Relay Therapeutics during the fourth quarter valued at approximately $42,000. Finally, Values First Advisors Inc. purchased a new stake in Relay Therapeutics during the third quarter valued at approximately $75,000. 96.98% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

RLAY has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $16.00 target price on shares of Relay Therapeutics in a research note on Tuesday, January 14th. JMP Securities restated a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a research note on Thursday, December 12th. Finally, Leerink Partners dropped their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. One research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Relay Therapeutics Company Profile

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.