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 on 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 $1,930,242.30. This trade represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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 stock was 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 transaction of $335,559.98.

Relay Therapeutics Trading Down 5.8%

NASDAQ:RLAY traded down $1.12 during trading hours on Friday, hitting $18.35. 3,595,892 shares of the stock traded hands, compared to its average volume of 3,131,055. The firm has a 50 day moving average price of $18.54 and a 200 day moving average price of $14.90. Relay Therapeutics, Inc. has a fifty-two week low of $5.95 and a fifty-two week high of $21.27. The firm has a market cap of $4.02 billion, a price-to-earnings ratio of -11.69 and a beta of 1.72.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The firm 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 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. HC Wainwright boosted their price objective on shares of Relay Therapeutics from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Citigroup reissued a “market outperform” rating on shares of Relay Therapeutics in a research note on Monday, August 10th. Barclays boosted their target price on Relay Therapeutics from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, October 2nd. Finally, Wall Street Zen lowered Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.92.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Relay Therapeutics in the 2nd quarter valued at $286,042,000. Perceptive Advisors LLC increased its holdings in shares of Relay Therapeutics by 412.3% during the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after acquiring an additional 7,847,896 shares during the last quarter. Spruce Street Capital LP bought a new position in Relay Therapeutics in the 2nd quarter valued at about $55,832,979. Dimensional Fund Advisors LP raised its stake in Relay Therapeutics by 18.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,940,536 shares of the company’s stock worth $29,248,000 after purchasing an additional 460,186 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Relay Therapeutics in the second quarter valued at approximately $50,425,000. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Company Profile

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.