Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel Sells 140,182 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) CEO Sanjiv Patel sold 140,182 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $3.85, for a total value of $539,700.70. Following the completion of the transaction, the chief executive officer now owns 625,948 shares of the company’s stock, valued at $2,409,899.80. The trade was a 18.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $3.70, for a total value of $278,698.80.
• On Wednesday, January 22nd, Sanjiv Patel sold 125,000 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.80, for a total value of $600,000.00.
• On Monday, December 16th, Sanjiv Patel sold 100,000 shares of Relay Therapeutics stock. The shares were sold at an average price of $5.00, for a total value of $500,000.00.

Relay Therapeutics Stock Up 5.3 %

Shares of RLAY stock opened at $3.96 on Friday. Relay Therapeutics, Inc. has a 52 week low of $3.50 and a 52 week high of $11.16. The company has a 50-day simple moving average of $4.46 and a 200 day simple moving average of $5.81.

Analysts Set New Price Targets

RLAY has been the topic of a number of recent analyst reports. JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a report on Thursday, December 12th. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, January 14th. Finally, Leerink Partners dropped their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Relay Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors have recently made changes to their positions in RLAY. Jump Financial LLC increased its stake in shares of Relay Therapeutics by 35.5% during the fourth quarter. Jump Financial LLC now owns 138,226 shares of the company’s stock worth $569,000 after purchasing an additional 36,251 shares during the period. XTX Topco Ltd grew its holdings in Relay Therapeutics by 26.4% in the 4th quarter. XTX Topco Ltd now owns 59,752 shares of the company’s stock valued at $246,000 after buying an additional 12,481 shares in the last quarter. Barclays PLC grew its holdings in Relay Therapeutics by 24.4% in the 4th quarter. Barclays PLC now owns 313,202 shares of the company’s stock valued at $1,290,000 after buying an additional 61,383 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in Relay Therapeutics by 41.9% during the 4th quarter. Ameritas Investment Partners Inc. now owns 12,730 shares of the company’s stock worth $52,000 after buying an additional 3,760 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Relay Therapeutics during the fourth quarter worth $779,000. Institutional investors own 96.98% of the company’s stock.

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 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.