Insider Selling: Relay Therapeutics (NASDAQ:RLAY) CEO Sells $337,573.76 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 43,168 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $7.82, for a total value of $337,573.76. Following the transaction, the chief executive officer owned 661,041 shares in the company, valued at approximately $5,169,340.62. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, November 3rd, Sanjiv Patel sold 62,073 shares of Relay Therapeutics stock. The stock was sold at an average price of $7.00, for a total value of $434,511.00.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY opened at $7.99 on Friday. The stock has a market capitalization of $1.38 billion, a P/E ratio of -4.57 and a beta of 1.55. The stock’s fifty day moving average is $7.61 and its 200 day moving average is $5.54. Relay Therapeutics, Inc. has a 52 week low of $1.77 and a 52 week high of $9.04.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.04). Equities research analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Quinn Opportunity Partners LLC bought a new stake in Relay Therapeutics during the 2nd quarter worth $35,000. FNY Investment Advisers LLC grew its holdings in shares of Relay Therapeutics by 100.0% during the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $34,000 after purchasing an additional 5,000 shares during the last quarter. May Hill Capital LLC bought a new stake in shares of Relay Therapeutics during the second quarter worth about $38,000. Focus Partners Advisor Solutions LLC acquired a new position in shares of Relay Therapeutics in the second quarter valued at approximately $39,000. Finally, Abel Hall LLC bought a new position in Relay Therapeutics in the 3rd quarter valued at approximately $58,000. 96.98% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wells Fargo & Company upgraded Relay Therapeutics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $6.00 to $13.00 in a research note on Friday, December 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Relay Therapeutics has an average rating of “Moderate Buy” and an average target price of $17.00.

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.