Thomas Catinazzo Sells 22,500 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) SVP Thomas Catinazzo sold 22,500 shares of Relay Therapeutics stock in a transaction on Monday, September 13th. The shares were sold at an average price of $35.00, for a total value of $787,500.00. Following the transaction, the senior vice president now owns 38,077 shares in the company, valued at $1,332,695. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

NASDAQ:RLAY opened at $35.41 on Wednesday. The business’s 50-day simple moving average is $32.78 and its two-hundred day simple moving average is $33.77. Relay Therapeutics, Inc. has a 52 week low of $26.44 and a 52 week high of $64.37.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Thursday, August 12th. The company reported ($2.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.48) by ($1.62). The firm had revenue of $0.84 million during the quarter. As a group, analysts predict that Relay Therapeutics, Inc. will post -3.87 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in shares of Relay Therapeutics by 10.3% in the second quarter. Royal Bank of Canada now owns 4,153 shares of the company’s stock worth $152,000 after purchasing an additional 388 shares during the last quarter. Citadel Advisors LLC increased its holdings in shares of Relay Therapeutics by 0.4% in the second quarter. Citadel Advisors LLC now owns 127,251 shares of the company’s stock worth $4,656,000 after purchasing an additional 478 shares during the last quarter. M&T Bank Corp increased its holdings in shares of Relay Therapeutics by 13.4% in the first quarter. M&T Bank Corp now owns 5,830 shares of the company’s stock worth $202,000 after purchasing an additional 690 shares during the last quarter. Swiss National Bank increased its holdings in shares of Relay Therapeutics by 1.1% in the first quarter. Swiss National Bank now owns 61,700 shares of the company’s stock worth $2,133,000 after purchasing an additional 700 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Relay Therapeutics by 9.5% in the second quarter. Arizona State Retirement System now owns 8,601 shares of the company’s stock worth $315,000 after purchasing an additional 743 shares during the last quarter. 93.94% of the stock is currently owned by hedge funds and other institutional investors.

RLAY has been the topic of several analyst reports. Zacks Investment Research downgraded Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Thursday, August 19th. Bank of America began coverage on Relay Therapeutics in a report on Wednesday, July 21st. They set a “buy” rating and a $50.00 price target on the stock. Finally, HC Wainwright decreased their price target on Relay Therapeutics from $57.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday, August 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.80.

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. The company's lead product candidates include RLY-1971, an oral small molecule inhibitor of protein tyrosine phosphatase Src homology region 2 domain-containing phosphatase-2 that is in Phase 1 trial in patients with advanced solid tumors; RLY-4008, an oral small molecule selective inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced solid tumors having oncogenic FGFR2 alterations; and RLY-PI3K1047, a lead compound that targets cancer-associated mutant variants of phosphoinositide 3-kinase alpha.

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