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

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 16,576 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $4.45, for a total value of $73,763.20. Following 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 SEC, which is accessible through 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 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 Price Performance

NASDAQ:RLAY opened at $4.57 on Tuesday. Relay Therapeutics, Inc. has a one year low of $4.01 and a one year high of $12.14. The company has a fifty day moving average price of $4.90 and a 200 day moving average price of $6.38. The stock has a market cap of $764.94 million, a P/E ratio of -1.75 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY) last announced 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. During the same quarter last year, the business posted ($0.54) EPS. The firm’s quarterly revenue was down 100.0% on a year-over-year basis. As a group, equities research analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on RLAY shares. JMP Securities reiterated a “market outperform” rating and set a $21.00 price objective on shares of Relay Therapeutics in a research report on Thursday, December 12th. Leerink Partners dropped their price target 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. Jefferies Financial Group raised Relay Therapeutics from a “hold” rating to a “buy” rating and lifted their target price for the company from $10.60 to $16.00 in a research note on Tuesday, September 10th. JPMorgan Chase & Co. dropped their price objective on Relay Therapeutics from $23.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Finally, Oppenheimer lowered shares of Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 10th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

Hedge Funds Weigh In On Relay Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Eventide Asset Management LLC acquired a new stake in shares of Relay Therapeutics during the 3rd quarter worth approximately $18,989,000. Walleye Capital LLC increased its holdings in Relay Therapeutics by 6,659.2% in the 3rd quarter. Walleye Capital LLC now owns 1,819,983 shares of the company’s stock valued at $12,885,000 after buying an additional 1,793,057 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Relay Therapeutics by 39.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after buying an additional 1,554,115 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Relay Therapeutics by 3,883.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,396,842 shares of the company’s stock worth $9,429,000 after acquiring an additional 1,361,779 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of Relay Therapeutics during the 3rd quarter valued at about $9,554,000. Institutional investors and hedge funds 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.