Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Sells $133,447.40 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 32,156 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $4.15, for a total value of $133,447.40. Following the completion of the transaction, the insider now owns 357,507 shares of the company’s stock, valued at $1,483,654.05. The trade was a 8.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Peter Rahmer also recently made the following trade(s):

• On Monday, January 6th, Peter Rahmer sold 16,576 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.45, for a total value of $73,763.20.
• On Monday, October 28th, Peter Rahmer sold 1,621 shares of Relay Therapeutics stock. The stock was sold at an average price of $6.06, for a total value of $9,823.26.

Relay Therapeutics Price Performance

RLAY opened at $4.83 on Thursday. The company has a market capitalization of $808.46 million, a PE ratio of -1.85 and a beta of 1.60. The business has a fifty day simple moving average of $4.86 and a 200 day simple moving average of $6.35. Relay Therapeutics, Inc. has a 1 year low of $4.01 and a 1 year high of $12.12.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same quarter last year, the company earned ($0.54) earnings per share. The firm’s quarterly revenue was down 100.0% on a year-over-year basis. Equities analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors have recently made changes to their positions in RLAY. Bank of New York Mellon Corp lifted its position in shares of Relay Therapeutics by 15.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 354,667 shares of the company’s stock valued at $2,312,000 after acquiring an additional 48,219 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Relay Therapeutics by 304.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 38,656 shares of the company’s stock worth $252,000 after purchasing an additional 29,087 shares during the period. Rhumbline Advisers grew its stake in Relay Therapeutics by 4.8% during the second quarter. Rhumbline Advisers now owns 163,895 shares of the company’s stock worth $1,069,000 after buying an additional 7,508 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Relay Therapeutics by 11.2% in the 2nd quarter. Victory Capital Management Inc. now owns 76,539 shares of the company’s stock valued at $499,000 after buying an additional 7,680 shares during the period. Finally, Candriam S.C.A. raised its position in shares of Relay Therapeutics by 38.4% in the 2nd quarter. Candriam S.C.A. now owns 703,429 shares of the company’s stock valued at $4,586,000 after buying an additional 195,000 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RLAY. HC Wainwright lowered their target price on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. Leerink Partners cut their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $28.00 price objective on shares of Relay Therapeutics in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Relay Therapeutics Company Profile

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.