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

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 16,576 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.45, for a total value of $73,763.20. Following the transaction, the insider now owns 308,754 shares of the company’s stock, valued at $1,373,955.30. This trade represents a 5.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $4.15, for a total transaction 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 Price Performance

NASDAQ RLAY opened at $4.83 on Thursday. The firm’s fifty day moving average price is $4.86 and its 200 day moving average price is $6.35. Relay Therapeutics, Inc. has a 12 month low of $4.01 and a 12 month high of $12.12. The company has a market capitalization of $808.46 million, a price-to-earnings ratio of -1.85 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.77) by $0.14. During the same period in the previous year, the business posted ($0.54) EPS. The firm’s revenue for the quarter was down 100.0% on a year-over-year basis. As a group, sell-side analysts forecast that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on RLAY. JMP Securities reissued a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a research note on Thursday, December 12th. Stifel Nicolaus restated a “buy” rating and set a $28.00 target price on shares of Relay Therapeutics in a research note on Monday, September 16th. Leerink Partners reduced their target price on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. Finally, HC Wainwright lowered their price target 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. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $20.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew 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 acquiring an additional 48,219 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Relay Therapeutics by 304.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 38,656 shares of the company’s stock valued at $252,000 after purchasing an additional 29,087 shares during the period. Rhumbline Advisers raised its holdings in shares of Relay Therapeutics by 4.8% in the second 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 last quarter. Victory Capital Management Inc. boosted its stake in shares of Relay Therapeutics by 11.2% during the second 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. grew its holdings in shares of 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 buying an additional 195,000 shares during the last quarter. 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.