Relay Therapeutics (NASDAQ:RLAY) Stock: Insider Thomas Catinazzo Sells 1,469 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 1,469 shares of Relay Therapeutics stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $18.62, for a total value of $27,352.78. Following the sale, the chief financial officer directly 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 sale was disclosed in a legal filing with the SEC, which is available at 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, 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 value of $329,359.03.
• 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.

Relay Therapeutics Stock Down 5.8%

Shares of NASDAQ RLAY opened at $18.35 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $5.95 and a fifty-two week high of $21.27. The business has a 50 day moving average price of $18.52 and a two-hundred day moving average price of $14.95. The firm has a market cap of $4.02 billion, a PE ratio of -11.69 and a beta of 1.72.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) 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 the consensus estimate of $0.96 million. On average, analysts anticipate that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Wall Street Zen lowered shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Zacks Research raised shares of Relay Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Barclays increased their price objective on shares of Relay Therapeutics from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. HC Wainwright raised their price objective on shares of Relay Therapeutics from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, October 2nd. 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 assigned a Sell rating to the company. Based on data from MarketBeat, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of RLAY. KBC Group NV acquired a new position in Relay Therapeutics in the first quarter worth $34,000. Allworth Financial LP bought a new stake in Relay Therapeutics during the second quarter valued at $34,000. GAMMA Investing LLC increased its stake in Relay Therapeutics by 108.3% during the third 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 last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Relay Therapeutics during the second quarter worth $62,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Relay Therapeutics during the second quarter worth $74,000. 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.