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

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 17,250 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $4.42, for a total value of $76,245.00. Following the completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 transaction 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 shares were sold at an average price of $4.15, for a total transaction of $133,447.40.

Relay Therapeutics Price Performance

Shares of RLAY opened at $4.47 on Friday. Relay Therapeutics, Inc. has a 1 year low of $3.50 and a 1 year high of $11.16. The stock has a 50 day simple moving average of $4.53 and a two-hundred day simple moving average of $6.11. The firm has a market cap of $748.19 million, a P/E ratio of -1.71 and a beta of 1.60.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, beating the consensus estimate 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 in the prior year, the business posted ($0.54) EPS. On average, equities analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Relay Therapeutics in the 3rd quarter valued at about $63,000. Portland Investment Counsel Inc. bought a new stake in Relay Therapeutics in the third quarter valued at approximately $71,000. Values First Advisors Inc. purchased a new stake in shares of Relay Therapeutics during the third quarter valued at approximately $75,000. Point72 DIFC Ltd bought a new position in shares of Relay Therapeutics in the third quarter worth approximately $134,000. Finally, Erste Asset Management GmbH purchased a new position in shares of Relay Therapeutics in the third quarter worth $172,000. 96.98% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RLAY has been the subject of several research analyst reports. Leerink Partners dropped their price objective on Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating for the company in a research note on Wednesday, December 4th. JMP Securities reiterated 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, HC Wainwright restated a “buy” rating and issued a $16.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.