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 transaction, the insider now owns 308,754 shares in the company, valued at approximately $1,373,955.30. This trade represents a 5.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 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 value of $9,823.26.

Relay Therapeutics Stock Up 3.4 %

RLAY traded up $0.15 on Monday, hitting $4.57. The company had a trading volume of 1,952,400 shares, compared to its average volume of 1,491,300. The business’s fifty day simple moving average is $4.90 and its 200 day simple moving average is $6.38. Relay Therapeutics, Inc. has a 12-month low of $4.01 and a 12-month high of $12.14. The company has a market cap of $764.94 million, a PE ratio of -1.75 and a beta of 1.60.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in shares of 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 acquiring an additional 1,554,115 shares during the period. Exome Asset Management LLC bought a new position in Relay Therapeutics during the 3rd quarter valued at about $2,936,000. Franklin Resources Inc. raised its position in Relay Therapeutics by 3,883.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock worth $9,429,000 after purchasing an additional 1,361,779 shares during the period. Virtu Financial LLC bought a new stake in Relay Therapeutics in the third quarter worth about $333,000. Finally, Barclays PLC lifted its stake in Relay Therapeutics by 118.4% in the third quarter. Barclays PLC now owns 251,819 shares of the company’s stock worth $1,783,000 after purchasing an additional 136,541 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. 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 report on Wednesday, December 4th. Barclays boosted their target price on shares of Relay Therapeutics from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. JMP Securities reaffirmed a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a research note on Thursday, December 12th. Jefferies Financial Group upgraded shares of Relay Therapeutics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $10.60 to $16.00 in a research note on Tuesday, September 10th. Finally, Oppenheimer lowered Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Relay Therapeutics has a consensus rating of “Moderate Buy” and an average price target 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.