Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Sells 16,576 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 16,576 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $4.45, for a total value of $73,763.20. Following the completion of the sale, the insider now owns 308,754 shares in the company, valued at approximately $1,373,955.30. The trade was a 5.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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 shares were sold at an average price of $6.06, for a total transaction of $9,823.26.

Relay Therapeutics Stock Performance

RLAY traded up $0.15 on Monday, hitting $4.57. The company had a trading volume of 1,952,400 shares, compared to its average volume of 1,491,300. The stock has a market capitalization of $764.94 million, a price-to-earnings ratio of -1.75 and a beta of 1.60. The stock has a fifty day moving average price of $4.90 and a 200-day moving average price of $6.38. Relay Therapeutics, Inc. has a 12-month low of $4.01 and a 12-month high of $12.14.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on RLAY shares. HC Wainwright reduced their target price on shares of Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. Oppenheimer downgraded Relay Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 10th. The Goldman Sachs Group started coverage on Relay Therapeutics in a report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 target price for the company. Leerink Partners cut their price target on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. decreased their price objective on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Relay Therapeutics has an average rating of “Moderate Buy” and an average target price of $20.50.

Institutional Investors Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLAY. JPMorgan Chase & Co. increased its holdings in shares of Relay Therapeutics by 39.2% during 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 in the last quarter. Exome Asset Management LLC purchased a new stake in Relay Therapeutics during the 3rd quarter worth approximately $2,936,000. Franklin Resources Inc. increased its stake in Relay Therapeutics by 3,883.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock valued at $9,429,000 after purchasing an additional 1,361,779 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Relay Therapeutics in the third quarter worth $333,000. Finally, Barclays PLC lifted its stake in shares of Relay Therapeutics by 118.4% during the third quarter. Barclays PLC now owns 251,819 shares of the company’s stock worth $1,783,000 after buying an additional 136,541 shares during the period. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Relay Therapeutics Company Profile

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.