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

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 32,156 shares of Relay Therapeutics stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $4.15, for a total value of $133,447.40. Following the completion of the transaction, the insider now directly owns 357,507 shares in the company, valued at $1,483,654.05. This represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 shares were sold at an average price of $4.45, for a total transaction of $73,763.20.
• 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 transaction of $9,823.26.

Relay Therapeutics Trading Up 1.1 %

Shares of NASDAQ:RLAY opened at $4.62 on Wednesday. The firm has a market cap of $773.31 million, a PE ratio of -1.77 and a beta of 1.60. The company has a fifty day simple moving average of $4.87 and a 200 day simple moving average of $6.36. Relay Therapeutics, Inc. has a 12-month low of $4.01 and a 12-month high of $12.14.

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

Institutional Trading of Relay Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC bought a new stake in shares of Relay Therapeutics in the 2nd quarter valued at approximately $37,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Relay Therapeutics during the third quarter worth $63,000. Portland Investment Counsel Inc. acquired a new position in Relay Therapeutics in the third quarter worth $71,000. Values First Advisors Inc. bought a new stake in Relay Therapeutics during the third quarter valued at $75,000. Finally, Point72 DIFC Ltd acquired a new stake in shares of Relay Therapeutics during the third quarter worth $134,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Relay Therapeutics in a report on Tuesday, September 10th. They set a “buy” rating and a $20.00 target price on the stock. Oppenheimer downgraded Relay Therapeutics from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 10th. JMP Securities reiterated a “market outperform” rating and set a $21.00 target price on shares of Relay Therapeutics in a report on Thursday, December 12th. HC Wainwright reduced their price target on 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, Barclays increased their price objective on shares of Relay Therapeutics from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Relay Therapeutics 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.