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

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 17,250 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $4.42, for a total value of $76,245.00. Following the sale, the insider now owns 402,431 shares in the company, valued at $1,778,745.02. The trade was a 4.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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 value 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 value of $133,447.40.

Relay Therapeutics Stock Performance

RLAY opened at $4.54 on Friday. Relay Therapeutics, Inc. has a 12-month low of $3.50 and a 12-month high of $11.16. The stock has a fifty day moving average of $4.53 and a 200-day moving average of $6.12.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.63) EPS for the quarter, topping analysts’ consensus estimates of ($0.77) by $0.14. During the same period last year, the business earned ($0.54) EPS. The company’s revenue for the quarter was down 100.0% on a year-over-year basis. On average, sell-side analysts anticipate that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RLAY has been the subject of several research reports. HC Wainwright reaffirmed a “buy” rating and set a $16.00 target price on shares of Relay Therapeutics in a research note on Tuesday, January 14th. Leerink Partners decreased their price target on shares of Relay Therapeutics from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $21.00 price target on shares of Relay Therapeutics in a report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Relay Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $20.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bellevue Group AG boosted its stake in shares of Relay Therapeutics by 15.7% during the 3rd quarter. Bellevue Group AG now owns 7,377,184 shares of the company’s stock valued at $52,230,000 after buying an additional 1,000,069 shares during the period. JPMorgan Chase & Co. boosted its position in Relay Therapeutics by 39.2% during the third quarter. JPMorgan Chase & Co. now owns 5,517,516 shares of the company’s stock valued at $39,064,000 after purchasing an additional 1,554,115 shares during the last quarter. State Street Corp increased its position in Relay Therapeutics by 1.2% in the 3rd quarter. State Street Corp now owns 4,300,216 shares of the company’s stock worth $30,446,000 after purchasing an additional 51,810 shares during the last quarter. Braidwell LP increased its position in Relay Therapeutics by 16.4% in the 3rd quarter. Braidwell LP now owns 3,499,427 shares of the company’s stock worth $24,776,000 after purchasing an additional 492,628 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings 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 buying an additional 367,473 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

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.