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

Relay Therapeutics, Inc. (NASDAQ:RLAYGet Free Report) insider Peter Rahmer sold 16,576 shares of Relay Therapeutics stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $4.45, for a total transaction of $73,763.20. Following the sale, the insider now directly owns 308,754 shares in the company, valued at $1,373,955.30. The trade was a 5.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

  • On Thursday, January 2nd, Peter Rahmer sold 32,156 shares of Relay Therapeutics stock. The shares were sold at an average price of $4.15, for a total value of $133,447.40.
  • 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 value of $9,823.26.

Relay Therapeutics Price Performance

RLAY stock opened at $4.62 on Wednesday. Relay Therapeutics, Inc. has a 1-year low of $4.01 and a 1-year high of $12.14. The stock has a market capitalization of $773.31 million, a P/E ratio of -1.77 and a beta of 1.60. The business has a fifty day moving average price of $4.87 and a 200-day moving average price of $6.36.

Relay Therapeutics (NASDAQ:RLAYGet Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.14. During the same quarter in the prior year, the firm posted ($0.54) EPS. The company’s quarterly revenue was down 100.0% on a year-over-year basis. As a group, analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on RLAY shares. HC Wainwright decreased their price objective on Relay Therapeutics from $20.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Bank of America lifted their price target on shares of Relay Therapeutics from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Tuesday, September 10th. Leerink Partners cut their price objective on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, December 4th. The Goldman Sachs Group initiated coverage on Relay Therapeutics in a research report on Tuesday, September 10th. They issued a “buy” rating and a $20.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating for the company in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

Get Our Latest Stock Analysis on RLAY

Institutional Investors Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in RLAY. Charles Schwab Investment Management Inc. boosted its stake in shares of Relay Therapeutics by 26.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,035,789 shares of the company’s stock worth $7,333,000 after buying an additional 214,398 shares during the last quarter. Maven Securities LTD bought a new stake in shares of Relay Therapeutics during the 3rd quarter valued at about $2,389,000. Geode Capital Management LLC increased its position in shares of Relay Therapeutics by 15.5% during 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 last quarter. Franklin Resources Inc. lifted its stake in shares of Relay Therapeutics by 3,883.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock worth $9,429,000 after purchasing an additional 1,361,779 shares during the period. Finally, First Turn Management LLC purchased a new position in shares of Relay Therapeutics in the third quarter worth approximately $8,683,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

About Relay Therapeutics

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Relay Therapeutics (NASDAQ:RLAY)

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