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

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 48,199 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $18.94, for a total value of $912,889.06. Following the sale, the chief executive officer directly owned 519,500 shares in the company, valued at approximately $9,839,330. This represents a 8.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, July 7th, Sanjiv Patel sold 48,199 shares of Relay Therapeutics stock. The stock was sold at an average price of $19.58, for a total transaction of $943,736.42.

Relay Therapeutics Price Performance

RLAY stock opened at $18.89 on Friday. Relay Therapeutics, Inc. has a 1-year low of $3.88 and a 1-year high of $21.27. The firm has a fifty day moving average price of $19.37 and a two-hundred day moving average price of $15.41. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of -12.03 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The firm had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. As a group, analysts expect that Relay Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barclays raised their price target on Relay Therapeutics from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wall Street Zen downgraded shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Citigroup reaffirmed a “market outperform” rating on shares of Relay Therapeutics in a report on Monday, August 10th. JonesTrading upgraded shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Finally, The Goldman Sachs Group lifted their price target on Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $25.92.

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in Relay Therapeutics by 11.9% during the 1st quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock valued at $956,000 after purchasing an additional 38,812 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Relay Therapeutics by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock valued at $221,000 after buying an additional 5,238 shares during the period. Millennium Management LLC lifted its holdings in shares of Relay Therapeutics by 14.6% in the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock valued at $7,710,000 after buying an additional 374,491 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Relay Therapeutics during the first quarter valued at about $53,000. Finally, Woodline Partners LP boosted its stake in Relay Therapeutics by 448.4% during the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock valued at $3,979,000 after buying an additional 1,241,657 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

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.