Relay Therapeutics (NASDAQ:RLAY) Insider Peter Rahmer Sells 50,000 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total transaction of $954,500.00. Following the completion of the sale, the insider owned 225,857 shares of the company’s stock, valued at approximately $4,311,610.13. This trade represents a 18.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Tuesday, April 28th, Peter Rahmer sold 753 shares of Relay Therapeutics stock. The shares were sold at an average price of $14.79, for a total transaction of $11,136.87.

Relay Therapeutics Price Performance

Relay Therapeutics stock traded up $0.89 during mid-day trading on Thursday, hitting $18.65. The company’s stock had a trading volume of 3,171,432 shares, compared to its average volume of 3,392,841. Relay Therapeutics, Inc. has a 52-week low of $3.03 and a 52-week high of $19.93. The company has a market cap of $3.57 billion, a PE ratio of -11.88 and a beta of 1.67. The firm’s 50 day moving average is $14.66 and its 200 day moving average is $11.42.

Relay Therapeutics (NASDAQ:RLAY) last issued its earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The firm had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.58 million. As a group, analysts forecast that Relay Therapeutics, Inc. will post -1.55 EPS for the current year.

Hedge Funds Weigh In On Relay Therapeutics

Several large investors have recently bought and sold shares of RLAY. AQR Capital Management LLC increased its holdings in shares of Relay Therapeutics by 11.9% during the 1st 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. grew its position in Relay Therapeutics by 6.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after buying an additional 5,238 shares in the last quarter. Millennium Management LLC boosted its stake in Relay Therapeutics by 14.6% during the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after buying an additional 374,491 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Relay Therapeutics in the 1st quarter valued at $53,000. Finally, Woodline Partners LP increased its holdings in Relay Therapeutics by 448.4% in the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock valued at $3,979,000 after buying an additional 1,241,657 shares during the period. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RLAY has been the topic of several research analyst reports. Citigroup restated an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday, May 20th. Wells Fargo & Company upped their target price on Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 28th. Citizens Jmp upped their price objective on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 20th. Raymond James Financial restated a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. Finally, The Goldman Sachs Group raised their price objective on Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Relay Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $23.30.

Relay Therapeutics Company Profile

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.