Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Peter Rahmer Sells 17,250 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 17,250 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $4.42, for a total value of $76,245.00. Following the transaction, the insider now directly owns 402,431 shares of the company’s stock, valued at $1,778,745.02. The trade was a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, January 28th, Peter Rahmer sold 1,673 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.63, for a total value of $7,745.99.
• 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 transaction of $73,763.20.
• 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.

Relay Therapeutics Stock Down 1.5 %

Shares of RLAY opened at $4.47 on Friday. The company has a market capitalization of $748.19 million, a P/E ratio of -1.71 and a beta of 1.60. Relay Therapeutics, Inc. has a twelve month low of $3.50 and a twelve month high of $11.16. The firm has a 50 day moving average of $4.53 and a 200 day moving average of $6.11.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, topping the consensus estimate of ($0.77) by $0.14. The company’s revenue for the quarter was down 100.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.54) earnings per share. On average, sell-side analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RLAY. Allspring Global Investments Holdings LLC lifted its holdings in shares of Relay Therapeutics by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company’s stock valued at $292,000 after buying an additional 2,547 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Relay Therapeutics during the third quarter valued at $63,000. China Universal Asset Management Co. Ltd. lifted its holdings in Relay Therapeutics by 37.8% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 35,491 shares of the company’s stock valued at $146,000 after acquiring an additional 9,740 shares during the period. Portland Investment Counsel Inc. purchased a new position in Relay Therapeutics in the third quarter worth about $71,000. Finally, XTX Topco Ltd grew its stake in shares of Relay Therapeutics by 27.9% during the 3rd quarter. XTX Topco Ltd now owns 47,271 shares of the company’s stock valued at $335,000 after purchasing an additional 10,311 shares during the period. Hedge funds and other institutional investors own 96.98% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on RLAY. Leerink Partners reduced their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a research note on Tuesday, January 14th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.