Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) CEO Sanjiv Patel sold 61,422 shares of the firm's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $2.97, for a total transaction of $182,423.34. Following the transaction, the chief executive officer now owns 821,667 shares of the company's stock, valued at approximately $2,440,350.99. This represents a 6.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Sanjiv Patel also recently made the following trade(s):
- On Thursday, February 13th, Sanjiv Patel sold 75,324 shares of Relay Therapeutics stock. The stock was sold at an average price of $3.70, for a total value of $278,698.80.
- On Tuesday, February 11th, Sanjiv Patel sold 140,182 shares of Relay Therapeutics stock. The shares were sold at an average price of $3.85, for a total value of $539,700.70.
Relay Therapeutics Stock Performance
NASDAQ RLAY opened at $3.19 on Friday. The stock has a market cap of $540.78 million, a price-to-earnings ratio of -1.22 and a beta of 1.70. The business has a 50 day simple moving average of $3.04 and a 200 day simple moving average of $4.33. Relay Therapeutics, Inc. has a 52-week low of $1.78 and a 52-week high of $10.72.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.45) earnings per share for the quarter, topping analysts' consensus estimates of ($0.57) by $0.12. On average, analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have commented on RLAY. HC Wainwright restated a "buy" rating and issued a $16.00 price target on shares of Relay Therapeutics in a research report on Friday, March 7th. Stifel Nicolaus decreased their price target on Relay Therapeutics from $27.00 to $23.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Wells Fargo & Company began coverage on Relay Therapeutics in a research report on Thursday, April 17th. They issued an "equal weight" rating and a $4.00 price objective for the company. Finally, The Goldman Sachs Group decreased their target price on Relay Therapeutics from $20.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Relay Therapeutics currently has an average rating of "Moderate Buy" and an average target price of $18.36.
Read Our Latest Analysis on Relay Therapeutics
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of RLAY. Vanguard Group Inc. boosted its position in Relay Therapeutics by 3.9% during the fourth quarter. Vanguard Group Inc. now owns 15,030,209 shares of the company's stock worth $61,924,000 after purchasing an additional 566,595 shares during the period. Tang Capital Management LLC increased its position in Relay Therapeutics by 126.1% during the 4th quarter. Tang Capital Management LLC now owns 8,068,058 shares of the company's stock worth $33,240,000 after buying an additional 4,500,000 shares during the period. Norges Bank acquired a new position in shares of Relay Therapeutics in the fourth quarter valued at about $23,821,000. JPMorgan Chase & Co. increased its position in Relay Therapeutics by 39.2% during the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company's stock worth $39,064,000 after acquiring an additional 1,554,115 shares during the period. Finally, Geode Capital Management LLC raised its stake in Relay Therapeutics by 10.9% in the 4th quarter. Geode Capital Management LLC now owns 3,030,157 shares of the company's stock worth $12,487,000 after purchasing an additional 297,887 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors.
Relay Therapeutics Company Profile
(
Get Free Report)
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.
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