Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Sells $73,763.20 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 16,576 shares of Relay Therapeutics stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.45, for a total transaction of $73,763.20. Following the completion of the sale, the insider now directly owns 308,754 shares in the company, valued at $1,373,955.30. This represents a 5.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Thursday, January 2nd, Peter Rahmer sold 32,156 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.15, for a total transaction of $133,447.40.
• On Monday, October 28th, Peter Rahmer sold 1,621 shares of Relay Therapeutics stock. The shares were sold at an average price of $6.06, for a total transaction of $9,823.26.

Relay Therapeutics Trading Up 4.5 %

Shares of RLAY stock opened at $4.83 on Thursday. Relay Therapeutics, Inc. has a twelve month low of $4.01 and a twelve month high of $12.12. The stock has a market cap of $808.46 million, a price-to-earnings ratio of -1.85 and a beta of 1.60. The company’s 50-day moving average price is $4.86 and its 200-day moving average price is $6.35.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.77) by $0.14. The business’s quarterly revenue was down 100.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. As a group, equities research analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Institutional Investors Weigh In On Relay Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RLAY. Bellevue Group AG lifted its stake in shares of Relay Therapeutics by 15.7% in the 3rd quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock valued at $52,230,000 after purchasing an additional 1,000,069 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Relay Therapeutics by 39.2% in the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after buying an additional 1,554,115 shares during the last quarter. State Street Corp boosted its stake in Relay Therapeutics by 1.2% during the third quarter. State Street Corp now owns 4,300,216 shares of the company’s stock worth $30,446,000 after buying an additional 51,810 shares during the period. Braidwell LP increased its position in shares of Relay Therapeutics by 16.4% during the third quarter. Braidwell LP now owns 3,499,427 shares of the company’s stock valued at $24,776,000 after acquiring an additional 492,628 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Relay Therapeutics by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock valued at $19,348,000 after acquiring an additional 367,473 shares during the period. Institutional investors and hedge funds own 96.98% of the company’s stock.

Analysts Set New Price Targets

RLAY has been the topic of a number of research reports. Leerink Partners decreased their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. HC Wainwright lowered their price target on Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research report on Thursday, December 12th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.