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Relay Therapeutics (NASDAQ:RLAY) President and CEO Sanjiv Patel sold a total of 61,379 shares of common stock on July 9, 2025, for approximately $219,123. The sales were executed at a price of $3.57 per share, with the stock currently trading at $3.73, near its 52-week low of $1.77. According to InvestingPro data, analysts maintain a bullish stance on the company with a consensus "Buy" rating.
The sales were to cover income tax withholding obligations upon the vesting of restricted stock units. Following the transactions, Patel directly owns 765,288 shares of Relay Therapeutics.
Patel also indirectly owns 199,548 shares through The Patel Family Irrevocable Trust of 2019 and 687,355 shares through The SSP Irrevocable Trust of 2020.
In other recent news, Relay Therapeutics has announced promising clinical data for its investigational drug RLY-2608, aimed at treating advanced breast cancer with a specific mutation. The updated results, presented at the American Society of Clinical Oncology (ASCO) 2025 Annual Meeting, showed a median progression-free survival of 10.3 months overall and 11.0 months in second-line patients. The ReDiscover study, which is evaluating RLY-2608’s safety and efficacy, reported a clinical benefit rate of 67%, with 81% of patients experiencing tumor reductions. Relay Therapeutics plans to initiate a Phase 3 study, ReDiscover-2, in mid-2025 to further investigate the drug’s potential.
Additionally, the company’s stock rating was reaffirmed as Market Outperform by Citizens JMP, with a price target of $12.00, following the presentation of the trial data. The company continues to lead in the PI3K inhibitor space, with no unexpected developments from competitors at the ASCO conference. Relay Therapeutics is also exploring combination treatments, including partnerships with Pfizer (NYSE:PFE) and others, to enhance the efficacy of RLY-2608. Management emphasized the importance of interactions at ASCO to facilitate the upcoming Phase 3 trial.
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