Peter Rahmer Sells 17,250 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 17,250 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $4.42, for a total value of $76,245.00. Following the sale, the insider now owns 402,431 shares in the company, valued at $1,778,745.02. This trade represents a 4.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, January 28th, Peter Rahmer sold 1,673 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.63, for a total transaction of $7,745.99.
• 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 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 value of $133,447.40.

Relay Therapeutics Stock Up 1.3 %

Shares of RLAY traded up $0.06 during midday trading on Thursday, hitting $4.54. The company had a trading volume of 1,154,019 shares, compared to its average volume of 2,957,148. The company’s 50 day moving average price is $4.53 and its 200 day moving average price is $6.12. Relay Therapeutics, Inc. has a 52 week low of $3.50 and a 52 week high of $11.16. The stock has a market cap of $759.92 million, a price-to-earnings ratio of -1.74 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly 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 period last year, the business earned ($0.54) EPS. The company’s quarterly revenue was down 100.0% on a year-over-year basis. Equities analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on RLAY. HC Wainwright restated a “buy” rating and issued a $16.00 price target on shares of Relay Therapeutics in a report on Tuesday, January 14th. JMP Securities reissued a “market outperform” rating and issued a $21.00 target price on shares of Relay Therapeutics in a research note on Thursday, December 12th. Finally, 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. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.50.

Institutional Trading of Relay Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bellevue Group AG grew its position in shares of Relay Therapeutics by 15.7% during the 3rd quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock valued at $52,230,000 after buying an additional 1,000,069 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in 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. State Street Corp grew its holdings in shares of Relay Therapeutics by 1.2% during the third quarter. State Street Corp now owns 4,300,216 shares of the company’s stock valued at $30,446,000 after purchasing an additional 51,810 shares during the last quarter. Braidwell LP raised its position in shares of Relay Therapeutics by 16.4% during the 3rd quarter. Braidwell LP now owns 3,499,427 shares of the company’s stock worth $24,776,000 after purchasing an additional 492,628 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Relay Therapeutics by 15.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,732,270 shares of the company’s stock worth $19,348,000 after purchasing an additional 367,473 shares during the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

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.