Thomas Catinazzo Sells 17,717 Shares of Relay Therapeutics (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CFO Thomas Catinazzo sold 17,717 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $18.94, for a total transaction of $335,559.98. Following the sale, the chief financial officer owned 122,851 shares of the company’s stock, valued at $2,326,797.94. This trade represents a 12.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Tuesday, July 28th, Thomas Catinazzo sold 1,459 shares of Relay Therapeutics stock. The shares were sold at an average price of $18.61, for a total transaction of $27,151.99.
• On Monday, July 6th, Thomas Catinazzo sold 17,717 shares of Relay Therapeutics stock. The stock was sold at an average price of $18.69, for a total transaction of $331,130.73.
• On Monday, June 22nd, Thomas Catinazzo sold 187,163 shares of Relay Therapeutics stock. The stock was sold at an average price of $16.97, for a total transaction of $3,176,156.11.

Relay Therapeutics Trading Up 1.2%

Relay Therapeutics stock opened at $18.89 on Friday. Relay Therapeutics, Inc. has a 12 month low of $3.88 and a 12 month high of $21.27. The business’s 50 day simple moving average is $19.37 and its 200 day simple moving average is $15.41. The company 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 released its 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 business had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. As a group, equities research analysts forecast that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Institutional Trading of Relay Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Alphabet Inc. bought a new stake in shares of Relay Therapeutics during the 2nd quarter valued at about $26,382,000. California State Teachers Retirement System increased its position in shares of Relay Therapeutics by 47.9% in the first quarter. California State Teachers Retirement System now owns 174,099 shares of the company’s stock worth $1,732,000 after purchasing an additional 56,422 shares during the last quarter. Persistent Asset Partners Ltd bought a new position in shares of Relay Therapeutics in the second quarter worth approximately $1,323,000. Sanctuary Advisors LLC purchased a new stake in Relay Therapeutics in the second quarter valued at approximately $1,995,000. Finally, Bank of America Corp DE raised its stake in Relay Therapeutics by 86.1% in the first quarter. Bank of America Corp DE now owns 1,937,695 shares of the company’s stock valued at $19,280,000 after purchasing an additional 896,746 shares in the last quarter. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RLAY has been the topic of a number of research reports. UBS Group set a $26.00 price objective on Relay Therapeutics in a research note on Tuesday, May 19th. Citizens Jmp boosted their price target on shares of Relay Therapeutics from $21.00 to $26.00 and gave the company a “market outperform” rating in a research report on Monday, August 10th. JonesTrading raised shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. HC Wainwright lifted their price objective on shares of Relay Therapeutics from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Relay Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $25.92.

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.