Peter Rahmer Sells 50,000 Shares of Relay Therapeutics (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 50,000 shares of the stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total value of $954,500.00. Following the transaction, the insider owned 225,857 shares of the company’s stock, valued at $4,311,610.13. This represents a 18.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, April 28th, Peter Rahmer sold 753 shares of Relay Therapeutics stock. The shares were sold at an average price of $14.79, for a total value of $11,136.87.

Relay Therapeutics Trading Up 5.0%

Shares of Relay Therapeutics stock traded up $0.89 during mid-day trading on Thursday, reaching $18.65. 3,171,432 shares of the stock were exchanged, compared to its average volume of 3,392,841. The company has a market cap of $3.57 billion, a price-to-earnings ratio of -11.88 and a beta of 1.67. The firm has a 50-day simple moving average of $14.66 and a 200 day simple moving average of $11.42. Relay Therapeutics, Inc. has a fifty-two week low of $3.03 and a fifty-two week high of $19.93.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The company had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $5.58 million. On average, research analysts predict that Relay Therapeutics, Inc. will post -1.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Barclays boosted their target price on Relay Therapeutics from $21.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Raymond James Financial restated a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. Wells Fargo & Company raised their target price on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. HC Wainwright lifted their price target on Relay Therapeutics from $25.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, Relay Therapeutics currently has a consensus rating of “Buy” and an average price target of $23.30.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the business. KBC Group NV bought a new position in Relay Therapeutics in the first quarter valued at approximately $34,000. Torren Management LLC acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at $30,000. Smartleaf Asset Management LLC lifted its stake in shares of Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after purchasing an additional 3,287 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Relay Therapeutics in the 4th quarter worth $46,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Relay Therapeutics by 26.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock worth $71,000 after purchasing an additional 1,757 shares during the period. 96.98% of the stock is owned by institutional investors.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.