Sanjiv Patel Sells 125,000 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 125,000 shares of the stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $4.80, for a total transaction of $600,000.00. Following the transaction, the chief executive officer now directly owns 324,548 shares of the company’s stock, valued at approximately $1,557,830.40. This trade represents a 27.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, December 16th, Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock. The stock was sold at an average price of $5.00, for a total transaction of $500,000.00.

Relay Therapeutics Trading Down 0.8 %

RLAY stock opened at $4.85 on Friday. Relay Therapeutics, Inc. has a twelve month low of $3.50 and a twelve month high of $11.16. The company’s 50 day moving average is $4.54 and its two-hundred day moving average is $6.19. The stock has a market cap of $811.79 million, a P/E ratio of -1.86 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.14. During the same quarter last year, the firm posted ($0.54) EPS. The firm’s revenue for the quarter was down 100.0% on a year-over-year basis. On average, equities research analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Relay Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its holdings in Relay Therapeutics by 26.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock worth $7,333,000 after purchasing an additional 214,398 shares in the last quarter. Maven Securities LTD purchased a new position in shares of Relay Therapeutics during the third quarter worth approximately $2,389,000. Geode Capital Management LLC grew its position in shares of Relay Therapeutics by 15.5% during the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock worth $19,348,000 after acquiring an additional 367,473 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Relay Therapeutics by 39.2% during the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock worth $39,064,000 after acquiring an additional 1,554,115 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in shares of Relay Therapeutics by 3,883.8% during the third quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock worth $9,429,000 after acquiring an additional 1,361,779 shares during the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

About Relay Therapeutics

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.