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 Relay Therapeutics stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $19.58, for a total transaction of $943,736.42. Following the completion of the transaction, the chief executive officer directly owned 615,898 shares of the company’s stock, valued at $12,059,282.84. The trade was a 7.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Relay Therapeutics Stock Up 5.7%

Relay Therapeutics stock opened at $20.75 on Friday. The company’s 50-day moving average price is $15.16 and its 200-day moving average price is $11.89. The company has a market cap of $3.98 billion, a PE ratio of -13.22 and a beta of 1.67. Relay Therapeutics, Inc. has a twelve month low of $3.03 and a twelve month high of $20.79.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The company had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $5.58 million. As a group, sell-side analysts expect that Relay Therapeutics, Inc. will post -1.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of RLAY. AQR Capital Management LLC raised its position 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. grew its position in shares of Relay Therapeutics by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after buying an additional 5,238 shares in the last quarter. Millennium Management LLC increased its stake in shares of Relay Therapeutics by 14.6% during 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 purchased a new position in shares of Relay Therapeutics during the first quarter valued at $53,000. Finally, Woodline Partners LP raised its holdings in shares of Relay Therapeutics by 448.4% in the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock valued at $3,979,000 after acquiring an additional 1,241,657 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Citigroup reiterated an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday, May 20th. Guggenheim increased their price target on Relay Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Barclays boosted their price objective on shares of Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. JonesTrading upgraded shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group raised their target price on shares of Relay Therapeutics from $13.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $23.73.

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.