Relay Therapeutics (NASDAQ:RLAY) Insider Sells $90,295.24 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 4,508 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $20.03, for a total value of $90,295.24. Following the transaction, the insider directly owned 223,657 shares of the company’s stock, valued at approximately $4,479,849.71. The trade was a 1.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, July 28th, Peter Rahmer sold 748 shares of Relay Therapeutics stock. The stock was sold at an average price of $18.61, for a total value of $13,920.28.
• On Tuesday, June 30th, Peter Rahmer sold 50,000 shares of Relay Therapeutics stock. The shares were sold at an average price of $19.09, for a total transaction of $954,500.00.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY opened at $18.77 on Monday. Relay Therapeutics, Inc. has a 12 month low of $3.52 and a 12 month high of $21.27. The company has a 50-day moving average price of $19.27 and a 200 day moving average price of $14.79. The company has a market cap of $4.11 billion, a price-to-earnings ratio of -11.96 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.96 million. As a group, equities analysts forecast that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Institutional Trading of Relay Therapeutics

Institutional investors have recently modified their holdings of the company. Alphabet Inc. acquired a new stake in Relay Therapeutics in the second quarter valued at approximately $26,382,000. California State Teachers Retirement System lifted its holdings in shares of Relay Therapeutics by 47.9% during the 1st quarter. California State Teachers Retirement System now owns 174,099 shares of the company’s stock valued at $1,732,000 after purchasing an additional 56,422 shares during the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Relay Therapeutics in the 2nd quarter worth $1,323,000. Sanctuary Advisors LLC acquired a new stake in shares of Relay Therapeutics in the 2nd quarter worth $1,995,000. Finally, Bank of America Corp DE grew its stake in Relay Therapeutics by 86.1% during the 1st quarter. Bank of America Corp DE now owns 1,937,695 shares of the company’s stock worth $19,280,000 after buying an additional 896,746 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. The Goldman Sachs Group boosted their target price on Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Guggenheim reiterated a “buy” rating on shares of Relay Therapeutics in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their target price on Relay Therapeutics from $28.00 to $31.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Finally, Zacks Research upgraded shares of Relay Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 20th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $25.92.

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.