Insider Selling: Relay Therapeutics (NASDAQ:RLAY) Insider Sells 753 Shares of Company Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 753 shares of the company’s stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $18.62, for a total transaction of $14,020.86. Following the completion of the transaction, the insider directly owned 222,904 shares in the company, valued at approximately $4,150,472.48. The trade was a 0.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 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 Wednesday, August 26th, Peter Rahmer sold 4,508 shares of Relay Therapeutics stock. The shares were sold at an average price of $20.03, for a total value of $90,295.24.

Relay Therapeutics Stock Performance

RLAY traded down $1.12 during midday trading on Friday, hitting $18.35. The stock had a trading volume of 3,595,892 shares, compared to its average volume of 3,131,055. The company has a market cap of $4.02 billion, a P/E ratio of -11.69 and a beta of 1.72. Relay Therapeutics, Inc. has a 1 year low of $5.95 and a 1 year high of $21.27. The business has a fifty day moving average of $18.54 and a 200 day moving average of $14.90.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The firm had revenue of $0.35 million during the quarter, compared to analysts’ expectations of $0.96 million. On average, equities research analysts anticipate that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Relay Therapeutics in the second quarter worth about $286,042,000. Perceptive Advisors LLC grew its stake in shares of Relay Therapeutics by 412.3% in the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after buying an additional 7,847,896 shares during the last quarter. Spruce Street Capital LP purchased a new stake in shares of Relay Therapeutics in the 2nd quarter worth approximately $55,832,979. Bank of America Corp DE purchased a new stake in shares of Relay Therapeutics in the 2nd quarter worth approximately $50,425,000. Finally, EcoR1 Capital LLC bought a new position in Relay Therapeutics during the 1st quarter valued at approximately $18,952,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Canaccord Genuity Group assumed coverage on Relay Therapeutics in a research note on Thursday, July 16th. They set a “buy” rating and a $29.00 price objective for the company. Barclays raised their price target on shares of Relay Therapeutics from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Wall Street Zen downgraded shares of Relay Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. raised their target price on Relay Therapeutics from $28.00 to $31.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Finally, Guggenheim reiterated a “buy” rating on shares of Relay Therapeutics in a report on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.92.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines for cancer and other serious diseases. The company uses its Dynamo platform, which combines structural biology, computational modeling, machine learning and experimental science to study how proteins move and interact. Relay aims to use this approach to identify precisely targeted therapies, including medicines designed to bind to previously difficult-to-drug sites.

The company’s pipeline has primarily focused on oncology, including investigational small-molecule therapies directed at cancer-driving proteins and signaling pathways.