Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Sells 32,156 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 32,156 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $4.15, for a total transaction of $133,447.40. Following the transaction, the insider now directly owns 357,507 shares in the company, valued at $1,483,654.05. This trade represents a 8.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• 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 value of $73,763.20.
• 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 value of $9,823.26.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY traded up $0.15 during midday trading on Monday, reaching $4.57. The company’s stock 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 P/E ratio of -1.75 and a beta of 1.60. The firm has a 50 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 announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.77) by $0.14. During the same period in the prior year, the company posted ($0.54) earnings per share. The business’s quarterly revenue was down 100.0% compared to the same quarter last year. On average, equities analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. Jefferies Financial Group raised shares of Relay Therapeutics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $10.60 to $16.00 in a research report on Tuesday, September 10th. Oppenheimer downgraded shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. HC Wainwright dropped their price target 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. Finally, JMP Securities reissued a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Relay Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.50.

Institutional Trading of Relay Therapeutics

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

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.