Sanjiv Patel Sells 43,168 Shares of Relay Therapeutics (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 43,168 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $7.82, for a total value of $337,573.76. Following the transaction, the chief executive officer directly owned 661,041 shares of the company’s stock, valued at $5,169,340.62. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, November 3rd, Sanjiv Patel sold 62,073 shares of Relay Therapeutics stock. The shares were sold at an average price of $7.00, for a total value of $434,511.00.

Relay Therapeutics Stock Performance

Shares of RLAY traded up $0.01 during midday trading on Wednesday, hitting $8.18. The company had a trading volume of 2,739,931 shares, compared to its average volume of 2,083,283. Relay Therapeutics, Inc. has a 1 year low of $1.77 and a 1 year high of $9.04. The firm has a market capitalization of $1.42 billion, a P/E ratio of -4.67 and a beta of 1.55. The company’s 50-day simple moving average is $7.56 and its 200-day simple moving average is $5.47.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, November 6th. The company reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.04). Equities analysts predict that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Relay Therapeutics

Several hedge funds have recently made changes to their positions in RLAY. Quinn Opportunity Partners LLC purchased a new position in shares of Relay Therapeutics during the second quarter worth about $35,000. FNY Investment Advisers LLC lifted its position in Relay Therapeutics by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $34,000 after acquiring an additional 5,000 shares during the period. May Hill Capital LLC purchased a new position in shares of Relay Therapeutics in the 2nd quarter valued at approximately $38,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of Relay Therapeutics in the second quarter valued at approximately $39,000. Finally, Abel Hall LLC purchased a new stake in shares of Relay Therapeutics during the third quarter worth approximately $58,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on RLAY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Tuesday, October 14th. Wells Fargo & Company raised Relay Therapeutics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $6.00 to $13.00 in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.