Relay Therapeutics (NASDAQ:RLAY) Insider Sells $13,920.28 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 748 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total value of $13,920.28. Following the completion of the transaction, the insider directly owned 228,165 shares in the company, valued at $4,246,150.65. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Tuesday, June 30th, Peter Rahmer sold 50,000 shares of Relay Therapeutics stock. The stock was sold at an average price of $19.09, for a total value of $954,500.00.

Relay Therapeutics Stock Up 5.9%

RLAY stock traded up $1.08 during midday trading on Thursday, reaching $19.45. 1,865,442 shares of the company’s stock traded hands, compared to its average volume of 3,307,066. The company has a 50-day simple moving average of $16.94 and a two-hundred day simple moving average of $12.95. Relay Therapeutics, Inc. has a 1-year low of $3.03 and a 1-year high of $20.79. The company has a market cap of $3.73 billion, a price-to-earnings ratio of -12.39 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The business had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.58 million. Equities research analysts forecast that Relay Therapeutics, Inc. will post -1.57 EPS for the current year.

Hedge Funds Weigh In On Relay Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in Relay Therapeutics by 11.9% in the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock worth $956,000 after purchasing an additional 38,812 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Relay Therapeutics by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock valued at $221,000 after purchasing an additional 5,238 shares during the period. Millennium Management LLC lifted its position in Relay Therapeutics by 14.6% during the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock valued at $7,710,000 after purchasing an additional 374,491 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Relay Therapeutics in the 1st quarter valued at about $53,000. Finally, Woodline Partners LP grew its position in shares of Relay Therapeutics by 448.4% during the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after buying an additional 1,241,657 shares during the period. Institutional investors own 96.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on RLAY. Wall Street Zen upgraded shares of Relay Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Wells Fargo & Company boosted their target price on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 28th. Oppenheimer upped their target price on shares of Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Citizens Jmp increased their price target on shares of Relay Therapeutics from $19.00 to $21.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 20th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Relay Therapeutics in a report on Wednesday, July 8th. They issued an “overweight” rating and a $28.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $24.92.

About Relay Therapeutics

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.