Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Sells 32,156 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 32,156 shares of Relay Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $4.15, for a total value of $133,447.40. Following the completion of the transaction, the insider now owns 357,507 shares in the company, valued at approximately $1,483,654.05. This represents a 8.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 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 Stock Performance

Relay Therapeutics stock opened at $4.83 on Thursday. The firm has a 50 day moving average price of $4.86 and a two-hundred day moving average price of $6.35. Relay Therapeutics, Inc. has a 52-week low of $4.01 and a 52-week high of $12.12. The firm has a market cap of $808.46 million, a price-to-earnings ratio of -1.85 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same quarter last year, the business posted ($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 predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on RLAY shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th. HC Wainwright lowered their target price on Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Leerink Partners cut their price target 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price objective on shares of Relay Therapeutics in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.50.

Institutional Investors Weigh In On Relay Therapeutics

Several large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC bought a new position in shares of Relay Therapeutics during the 2nd quarter worth approximately $37,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Relay Therapeutics during the third quarter worth $63,000. Portland Investment Counsel Inc. acquired a new stake in Relay Therapeutics in the third quarter worth $71,000. Values First Advisors Inc. bought a new stake in Relay Therapeutics in the third quarter valued at $75,000. Finally, Point72 DIFC Ltd acquired a new position in shares of Relay Therapeutics during the third quarter valued at about $134,000. Institutional investors and hedge funds 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.