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 firm’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 completion of the sale, the insider now owns 402,431 shares in the company, valued at approximately $1,778,745.02. This represents a 4.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Tuesday, January 28th, Peter Rahmer sold 1,673 shares of Relay Therapeutics stock. The stock was 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 shares were sold at an average price of $4.15, for a total transaction of $133,447.40.

Relay Therapeutics Price Performance

RLAY traded up $0.06 on Thursday, reaching $4.54. 1,154,019 shares of the company traded hands, compared to its average volume of 2,957,148. Relay Therapeutics, Inc. has a 52-week low of $3.50 and a 52-week high of $11.16. The company has a market cap of $759.92 million, a price-to-earnings ratio of -1.74 and a beta of 1.60. The stock’s 50 day moving average price is $4.53 and its 200-day moving average price is $6.12.

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

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds have recently bought and sold shares of the business. Bellevue Group AG boosted its stake in shares of Relay Therapeutics by 15.7% during the 3rd quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock worth $52,230,000 after acquiring an additional 1,000,069 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Relay Therapeutics by 39.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock worth $39,064,000 after purchasing an additional 1,554,115 shares during the last quarter. State Street Corp boosted its position 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 purchasing an additional 51,810 shares during the period. Braidwell LP grew its holdings in 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 purchasing an additional 492,628 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Relay Therapeutics by 15.5% in the third quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock valued at $19,348,000 after purchasing an additional 367,473 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a research note on Tuesday, January 14th. Leerink Partners cut their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Wednesday, December 4th. Finally, 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. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

About Relay Therapeutics

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.