Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Peter Rahmer Sells 32,156 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 32,156 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $4.15, for a total value of $133,447.40. Following the transaction, the insider now owns 357,507 shares of the company’s stock, valued at $1,483,654.05. This represents a 8.25 % decrease in their position. The transaction was disclosed in a document filed 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 value 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 Up 1.1 %

Shares of Relay Therapeutics stock opened at $4.62 on Wednesday. Relay Therapeutics, Inc. has a 12-month low of $4.01 and a 12-month high of $12.14. The firm has a market capitalization of $773.31 million, a PE ratio of -1.77 and a beta of 1.60. The stock’s fifty day moving average is $4.87 and its 200-day moving average is $6.36.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. The firm’s quarterly revenue was down 100.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.54) EPS. Analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Wall Street Analysts Forecast Growth

RLAY has been the subject of several recent analyst reports. Bank of America upped their target price on shares of Relay Therapeutics from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Leerink Partners lowered their target price on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and set a $21.00 price target on shares of Relay Therapeutics in a research report on Thursday, December 12th. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and raised their price target for the company from $10.60 to $16.00 in a report on Tuesday, September 10th. Finally, Oppenheimer cut shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Hedge Funds Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bellevue Group AG boosted its position in shares of Relay Therapeutics by 15.7% in the third quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock worth $52,230,000 after buying an additional 1,000,069 shares during the period. JPMorgan Chase & Co. lifted its stake in Relay Therapeutics by 39.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock worth $39,064,000 after acquiring an additional 1,554,115 shares in the last quarter. State Street Corp boosted its position in Relay Therapeutics by 1.2% during the 3rd quarter. State Street Corp now owns 4,300,216 shares of the company’s stock worth $30,446,000 after acquiring an additional 51,810 shares during the period. Braidwell LP grew its stake in Relay Therapeutics by 16.4% during the 3rd quarter. Braidwell LP now owns 3,499,427 shares of the company’s stock valued at $24,776,000 after acquiring an additional 492,628 shares in the last quarter. Finally, Geode Capital Management LLC increased 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 valued at $19,348,000 after purchasing an additional 367,473 shares during the period. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

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.