Relay Therapeutics (NASDAQ:RLAY) CEO Sanjiv Patel Sells 48,199 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 48,199 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $19.58, for a total value of $943,736.42. Following the completion of the transaction, the chief executive officer owned 615,898 shares in the company, valued at approximately $12,059,282.84. The trade was a 7.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Relay Therapeutics Stock Performance

Shares of Relay Therapeutics stock opened at $19.63 on Thursday. The stock has a market capitalization of $3.76 billion, a P/E ratio of -12.50 and a beta of 1.67. Relay Therapeutics, Inc. has a 52-week low of $3.03 and a 52-week high of $20.20. The stock’s 50-day simple moving average is $15.00 and its 200 day simple moving average is $11.81.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The company had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.58 million. Equities research analysts forecast that Relay Therapeutics, Inc. will post -1.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Relay Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its position in Relay Therapeutics by 591.7% in the 4th quarter. SG Americas Securities LLC now owns 220,949 shares of the company’s stock worth $1,869,000 after purchasing an additional 189,004 shares during the period. Tudor Investment Corp ET AL purchased a new stake in shares of Relay Therapeutics during the 3rd quarter valued at about $399,000. Sanctuary Advisors LLC bought a new position in shares of Relay Therapeutics in the 4th quarter worth approximately $1,203,000. Commodore Capital LP boosted its holdings in shares of Relay Therapeutics by 27.3% in the third quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock worth $88,740,000 after buying an additional 3,650,000 shares during the last quarter. Finally, Mayport LLC purchased a new position in shares of Relay Therapeutics during the 3rd quarter worth $259,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on RLAY shares. The Goldman Sachs Group increased their target price on Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. HC Wainwright upped their price objective on shares of Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. UBS Group set a $26.00 price target on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Oppenheimer increased their target price on Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Monday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $23.73.

About Relay Therapeutics

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.