Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo Sells 9,373 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 9,373 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $6.24, for a total transaction of $58,487.52. Following the sale, the chief financial officer now directly owns 330,430 shares in the company, valued at $2,061,883.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Thomas Catinazzo also recently made the following trade(s):

• On Monday, April 29th, Thomas Catinazzo sold 1,695 shares of Relay Therapeutics stock. The stock was sold at an average price of $6.38, for a total transaction of $10,814.10.

Relay Therapeutics Stock Down 1.8 %

Shares of NASDAQ RLAY opened at $6.40 on Tuesday. The firm has a 50-day simple moving average of $6.81 and a 200-day simple moving average of $8.50. The stock has a market capitalization of $849.55 million, a price-to-earnings ratio of -2.42 and a beta of 1.66. Relay Therapeutics, Inc. has a 52 week low of $5.70 and a 52 week high of $13.32.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.08. The firm had revenue of $10.01 million for the quarter, compared to analyst estimates of $0.12 million. During the same quarter in the previous year, the business posted ($0.78) earnings per share. Relay Therapeutics’s revenue for the quarter was up 4327.9% on a year-over-year basis. As a group, equities research analysts expect that Relay Therapeutics, Inc. will post -2.81 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $24.00 price objective on shares of Relay Therapeutics in a research report on Monday, May 6th. Oppenheimer restated an “outperform” rating and set a $25.00 price objective (down from $33.00) on shares of Relay Therapeutics in a research report on Monday, May 6th. Barclays upgraded shares of Relay Therapeutics from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research report on Friday, May 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $20.00 target price on shares of Relay Therapeutics in a research report on Friday, June 7th. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $22.80.

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in Relay Therapeutics during the first quarter worth about $79,000. Virtu Financial LLC purchased a new position in Relay Therapeutics during the first quarter worth about $87,000. Victory Capital Management Inc. purchased a new position in Relay Therapeutics during the fourth quarter worth about $126,000. Quest Partners LLC purchased a new position in Relay Therapeutics during the fourth quarter worth about $147,000. Finally, Los Angeles Capital Management LLC boosted its stake in Relay Therapeutics by 25.7% during the first quarter. Los Angeles Capital Management LLC now owns 13,939 shares of the company’s stock worth $116,000 after buying an additional 2,850 shares during the period. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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.