Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Peter Rahmer Sells 17,250 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) insider Peter Rahmer sold 17,250 shares of the business's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $4.42, for a total transaction of $76,245.00. Following the completion of the sale, the insider now owns 402,431 shares of the company's stock, valued at approximately $1,778,745.02. This represents a 4.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Tuesday, January 28th, Peter Rahmer sold 1,673 shares of Relay Therapeutics stock. The stock was sold at an average price of $4.63, for a total value of $7,745.99.
• 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 transaction of $73,763.20.
• 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 value of $133,447.40.

Relay Therapeutics Trading Up 0.7 %

NASDAQ:RLAY traded up $0.03 during midday trading on Monday, reaching $4.50. The company had a trading volume of 924,807 shares, compared to its average volume of 2,753,794. The stock's fifty day simple moving average is $4.52 and its 200-day simple moving average is $6.05. The firm has a market capitalization of $753.38 million, a price-to-earnings ratio of -1.72 and a beta of 1.61. Relay Therapeutics, Inc. has a 12-month low of $3.50 and a 12-month high of $11.16.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) earnings per share for the quarter, beating analysts' consensus estimates of ($0.77) by $0.14. The company's revenue for the quarter was down 100.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.54) earnings per share. As a group, sell-side analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Institutional Trading of Relay Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLAY. Allspring Global Investments Holdings LLC boosted its stake in Relay Therapeutics by 6.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 41,203 shares of the company's stock worth $292,000 after purchasing an additional 2,547 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Relay Therapeutics in the third quarter valued at about $63,000. China Universal Asset Management Co. Ltd. boosted its holdings in Relay Therapeutics by 37.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 35,491 shares of the company's stock valued at $146,000 after purchasing an additional 9,740 shares in the last quarter. Portland Investment Counsel Inc. acquired a new position in Relay Therapeutics during the 3rd quarter worth approximately $71,000. Finally, XTX Topco Ltd raised its stake in shares of Relay Therapeutics by 27.9% during the 3rd quarter. XTX Topco Ltd now owns 47,271 shares of the company's stock worth $335,000 after buying an additional 10,311 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company's stock.

Wall Street Analysts Forecast Growth

RLAY has been the subject of several research reports. HC Wainwright restated a "buy" rating and set a $16.00 price objective on shares of Relay Therapeutics in a research note on Tuesday, January 14th. JMP Securities reaffirmed a "market outperform" rating and set a $21.00 price target on shares of Relay Therapeutics in a research report on Thursday, December 12th. Finally, Leerink Partners decreased their price objective on Relay Therapeutics from $19.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, December 4th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Relay Therapeutics presently has an average rating of "Moderate Buy" and an average price target of $20.50.

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.