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

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

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 transaction 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 transaction of $27,151.99.

Relay Therapeutics Stock Up 2.7%

NASDAQ RLAY opened at $17.88 on Friday. The company has a 50-day simple moving average of $19.06 and a two-hundred day simple moving average of $16.62. Relay Therapeutics, Inc. has a 12-month low of $5.85 and a 12-month high of $21.27. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of -11.39 and a beta of 1.72.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results 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 company had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.96 million. Equities analysts expect that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Relay Therapeutics News Summary

Here are the key news stories impacting Relay Therapeutics this week:

• Positive Sentiment: Relay Therapeutics has a consensus “Moderate Buy” rating and an average analyst price target of $25.92, implying substantial upside from recent trading levels. Citizens JMP also raised its price target to $26 and maintained an outperform rating. The company’s oncology pipeline and computational drug-discovery platform remain key parts of the investment thesis. Relay Therapeutics stock coverage
• Positive Sentiment: Institutional ownership remains high at approximately 96.98%. Recent reported purchases included new positions by Alphabet and other investment firms, while Bank of America increased its holdings and California State Teachers’ Retirement System boosted its stake. These actions may provide some institutional support for the stock.
• Neutral Sentiment: Recent valuation commentary is divided: one analysis asks whether the pullback has created an opportunity, while another argues the shares look fully priced relative to book value. This reflects uncertainty over how much of Relay’s potential pipeline value is already reflected in the stock. Relay Therapeutics valuation analysis
• Neutral Sentiment: A report stated that short interest had increased, but it simultaneously listed total short interest at zero shares and a zero-day days-to-cover ratio. Because those figures are internally inconsistent, the data should not be treated as a reliable indication of short-selling pressure without confirmation.
• Negative Sentiment: Relay’s CFO Thomas Catinazzo sold 17,717 shares for approximately $329,359, reducing his holdings by 14.42%. CEO Sanjiv Patel separately sold 48,199 shares for approximately $872,402, cutting his position by 9.28%. The sales do not necessarily indicate a change in business outlook, but executive selling can weigh on investor sentiment, particularly when both transactions occur close together. Relay Therapeutics insider sales

Analyst Ratings Changes

RLAY has been the subject of a number of analyst reports. Citizens Jmp increased their target price on shares of Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a report on Monday, August 10th. Canaccord Genuity Group initiated coverage on Relay Therapeutics in a report on Thursday, July 16th. They set a “buy” rating and a $29.00 price target on the stock. Citigroup reiterated a “market outperform” rating on shares of Relay Therapeutics in a research report on Monday, August 10th. Zacks Research raised Relay Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Finally, JPMorgan Chase & Co. upped their target price on Relay Therapeutics from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted 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 valued at $51,000 after purchasing an additional 1,482 shares during the period. Congress Asset Management Co. boosted its position in shares of Relay Therapeutics by 24.5% during the third quarter. Congress Asset Management Co. now owns 779,544 shares of the company’s stock valued at $14,071,000 after purchasing an additional 153,403 shares in the last quarter. Tidal Investments LLC grew its stake in Relay Therapeutics by 14.7% in the second quarter. Tidal Investments LLC now owns 176,782 shares of the company’s stock worth $3,308,000 after purchasing an additional 22,682 shares during the period. Integrated Wealth Concepts LLC bought a new position in Relay Therapeutics in the second quarter worth $74,000. Finally, Allianz Asset Management GmbH bought a new position in Relay Therapeutics in the second quarter worth $750,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Relay Therapeutics Company Profile

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.