Relay Therapeutics (NASDAQ:RLAY) Shares Break Above Fifty Day Moving Average – Should You Sell?

Relay Therapeutics, Inc. (NASDAQ:RLAY) shares passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $18.59 and traded as high as $18.96. Relay Therapeutics shares last traded at $18.84, with a volume of 2,258,206 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on RLAY shares. Barclays upped their price objective on Relay Therapeutics from $27.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, August 7th. Guggenheim reiterated a “buy” rating on shares of Relay Therapeutics in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Friday, October 2nd. Wall Street Zen downgraded shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 15th. Finally, Citizens Jmp increased their price target on shares of Relay Therapeutics from $21.00 to $26.00 and gave the company a “market outperform” rating in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.92.

Relay Therapeutics Trading Up 4.0%

The firm has a fifty day moving average price of $18.59 and a 200 day moving average price of $14.78.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The firm had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $0.96 million. As a group, sell-side analysts expect that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Thomas Catinazzo sold 17,717 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $18.59, for a total transaction of $329,359.03. Following the transaction, the chief financial officer owned 105,134 shares in the company, valued at $1,954,441.06. This represents a 14.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Donald A. Bergstrom sold 8,530 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $18.97, for a total transaction of $161,814.10. Following the completion of the transaction, the insider directly owned 399,130 shares of the company’s stock, valued at $7,571,496.10. The trade was a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 6,144,870 shares of company stock valued at $119,102,319 in the last 90 days. 5.04% of the stock is owned by insiders.

Institutional Trading of Relay Therapeutics

A number of institutional investors have recently bought and sold shares of RLAY. BlackRock Inc. purchased a new stake in shares of Relay Therapeutics during the second quarter valued at $286,042,000. Perceptive Advisors LLC grew its stake in Relay Therapeutics by 412.3% during the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after purchasing an additional 7,847,896 shares during the last quarter. Spruce Street Capital LP purchased a new stake in Relay Therapeutics during the 2nd quarter valued at about $55,832,979. Dimensional Fund Advisors LP grew its stake in Relay Therapeutics by 18.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,940,536 shares of the company’s stock valued at $29,248,000 after purchasing an additional 460,186 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in shares of Relay Therapeutics in the second quarter valued at about $50,425,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

About Relay Therapeutics

Relay Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines for cancer and other serious diseases. The company uses its Dynamo platform, which combines structural biology, computational modeling, machine learning and experimental science to study how proteins move and interact. Relay aims to use this approach to identify precisely targeted therapies, including medicines designed to bind to previously difficult-to-drug sites.

The company’s pipeline has primarily focused on oncology, including investigational small-molecule therapies directed at cancer-driving proteins and signaling pathways.