Relay Therapeutics (NASDAQ:RLAY) Insider Peter Rahmer Sells 753 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 753 shares of the stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $18.62, for a total value of $14,020.86. Following the sale, the insider directly owned 222,904 shares in the company, valued at approximately $4,150,472.48. This trade represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Wednesday, August 26th, Peter Rahmer sold 4,508 shares of Relay Therapeutics stock. The stock was sold at an average price of $20.03, for a total value of $90,295.24.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY opened at $18.35 on Friday. The stock has a market capitalization of $4.02 billion, a P/E ratio of -11.69 and a beta of 1.72. The stock’s fifty day moving average is $18.52 and its 200 day moving average is $14.95. Relay Therapeutics, Inc. has a 52 week low of $5.95 and a 52 week high of $21.27.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.96 million. Equities research analysts forecast that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Citigroup restated a “market outperform” rating on shares of Relay Therapeutics in a research report on Monday, August 10th. Guggenheim reiterated a “buy” rating on shares of Relay Therapeutics in a research report on Friday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Relay Therapeutics from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Barclays lifted their price objective on shares of Relay Therapeutics from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Canaccord Genuity Group assumed coverage on shares of Relay Therapeutics in a research report on Thursday, July 16th. They set a “buy” rating and a $29.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Relay Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $25.92.

Institutional Trading of Relay Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of RLAY. Allworth Financial LP acquired a new stake in Relay Therapeutics in the second quarter valued at about $34,000. GAMMA Investing LLC grew its position in Relay Therapeutics by 108.3% in the third quarter. GAMMA Investing LLC now owns 2,850 shares of the company’s stock valued at $51,000 after acquiring an additional 1,482 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Relay Therapeutics during the second quarter worth about $62,000. KBC Group NV acquired a new position in Relay Therapeutics during the first quarter worth about $34,000. Finally, Integrated Wealth Concepts LLC acquired a new position in Relay Therapeutics during the second quarter worth about $74,000. 96.98% of the stock is currently owned by institutional investors.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines for cancer and other serious diseases. The company uses its Dynamo platform, which combines structural biology, computational modeling, machine learning and experimental science to study how proteins move and interact. Relay aims to use this approach to identify precisely targeted therapies, including medicines designed to bind to previously difficult-to-drug sites.

The company’s pipeline has primarily focused on oncology, including investigational small-molecule therapies directed at cancer-driving proteins and signaling pathways.