Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Peter Rahmer Sells 32,156 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 32,156 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $4.15, for a total value of $133,447.40. Following the sale, the insider now directly owns 357,507 shares in the company, valued at approximately $1,483,654.05. This trade represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

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

• On Monday, January 6th, Peter Rahmer sold 16,576 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.45, for a total transaction of $73,763.20.
• 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 Price Performance

Shares of Relay Therapeutics stock traded up $0.15 during trading on Monday, hitting $4.57. The company’s stock had a trading volume of 1,952,400 shares, compared to its average volume of 1,491,300. The stock has a market cap of $764.94 million, a price-to-earnings ratio of -1.75 and a beta of 1.60. Relay Therapeutics, Inc. has a 52 week low of $4.01 and a 52 week high of $12.14. The stock has a 50-day moving average price of $4.90 and a two-hundred day moving average price of $6.38.

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

Analyst Ratings Changes

Several research analysts have commented on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Leerink Partners reduced their price objective on 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 dropped their target price on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Barclays lifted their price target on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group raised shares of Relay Therapeutics from a “hold” rating to a “buy” rating and increased their price objective for the company from $10.60 to $16.00 in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of Relay Therapeutics by 15.7% during the second quarter. Bank of New York Mellon Corp now owns 354,667 shares of the company’s stock worth $2,312,000 after buying an additional 48,219 shares during the period. Allspring Global Investments Holdings LLC grew its stake 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 increased its holdings in Relay Therapeutics by 4.8% in the second quarter. Rhumbline Advisers now owns 163,895 shares of the company’s stock worth $1,069,000 after purchasing an additional 7,508 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Relay Therapeutics by 11.2% in the second quarter. Victory Capital Management Inc. now owns 76,539 shares of the company’s stock worth $499,000 after purchasing an additional 7,680 shares in the last quarter. Finally, Candriam S.C.A. boosted its holdings in shares of Relay Therapeutics by 38.4% during the 2nd quarter. Candriam S.C.A. now owns 703,429 shares of the company’s stock worth $4,586,000 after buying an additional 195,000 shares in the last quarter. Institutional investors own 96.98% of the company’s stock.

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.