Peter Rahmer Sells 16,576 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 16,576 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $4.45, for a total value of $73,763.20. Following the completion of the sale, the insider now directly owns 308,754 shares in the company, valued at approximately $1,373,955.30. This represents a 5.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

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

• 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 value of $133,447.40.
• 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 transaction of $9,823.26.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY opened at $4.57 on Tuesday. Relay Therapeutics, Inc. has a fifty-two week low of $4.01 and a fifty-two week high of $12.14. The firm has a market capitalization of $764.94 million, a P/E ratio of -1.75 and a beta of 1.60. The company’s 50 day simple moving average is $4.90 and its 200 day simple moving average is $6.38.

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 analysts’ consensus estimates of ($0.77) by $0.14. During the same period last year, the company posted ($0.54) earnings per share. The company’s quarterly revenue was down 100.0% compared to the same quarter last year. Sell-side analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on RLAY. HC Wainwright reduced their price target on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. Jefferies Financial Group upgraded Relay Therapeutics from a “hold” rating to a “buy” rating and increased their price target for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. The Goldman Sachs Group began coverage on Relay Therapeutics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 price objective for the company. JMP Securities restated a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a report on Thursday, December 12th. Finally, Barclays lifted their price target on Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its stake in 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 worth $2,312,000 after acquiring an additional 48,219 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Relay Therapeutics by 304.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 38,656 shares of the company’s stock valued at $252,000 after buying an additional 29,087 shares during the period. Rhumbline Advisers grew its holdings in shares of Relay Therapeutics by 4.8% in the 2nd quarter. Rhumbline Advisers now owns 163,895 shares of the company’s stock valued at $1,069,000 after buying an additional 7,508 shares during the period. Victory Capital Management Inc. raised its stake in Relay Therapeutics by 11.2% during the 2nd quarter. Victory Capital Management Inc. now owns 76,539 shares of the company’s stock worth $499,000 after buying an additional 7,680 shares during the period. Finally, Candriam S.C.A. lifted its holdings in Relay Therapeutics by 38.4% during the second quarter. Candriam S.C.A. now owns 703,429 shares of the company’s stock worth $4,586,000 after acquiring an additional 195,000 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

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.