Peter Rahmer Sells 19,864 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAYGet Free Report) insider Peter Rahmer sold 19,864 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $6.47, for a total value of $128,520.08. Following the sale, the insider now directly owns 493,470 shares of the company’s stock, valued at $3,192,750.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

  • On Wednesday, June 5th, Peter Rahmer sold 20,450 shares of Relay Therapeutics stock. The stock was sold at an average price of $7.06, for a total value of $144,377.00.
  • On Monday, April 29th, Peter Rahmer sold 1,345 shares of Relay Therapeutics stock. The stock was sold at an average price of $6.38, for a total value of $8,581.10.

Relay Therapeutics Stock Down 1.0 %

NASDAQ RLAY opened at $7.27 on Friday. Relay Therapeutics, Inc. has a 1-year low of $5.70 and a 1-year high of $13.32. The stock has a 50-day moving average of $6.79 and a two-hundred day moving average of $8.70.

Relay Therapeutics (NASDAQ:RLAYGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.62) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.08. Relay Therapeutics had a negative return on equity of 42.66% and a negative net margin of 1,263.49%. The business had revenue of $10.01 million during the quarter, compared to the consensus estimate of $0.12 million. During the same period in the previous year, the company posted ($0.78) earnings per share. The business’s revenue for the quarter was up 4327.9% on a year-over-year basis. On average, sell-side analysts forecast that Relay Therapeutics, Inc. will post -2.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RLAY. Oppenheimer reissued an “outperform” rating and set a $25.00 price objective (down from $33.00) on shares of Relay Therapeutics in a research report on Monday, May 6th. Barclays raised Relay Therapeutics from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research report on Friday, May 10th. Stifel Nicolaus lifted their target price on Relay Therapeutics from $25.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $24.00 target price on shares of Relay Therapeutics in a research report on Monday, May 6th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Relay Therapeutics in a research report on Thursday, February 22nd. Seven equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $22.20.

Check Out Our Latest Stock Report on Relay Therapeutics

Hedge Funds Weigh In On Relay Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Virtu Financial LLC acquired a new position in shares of Relay Therapeutics during the first quarter worth about $87,000. Bayesian Capital Management LP acquired a new position in shares of Relay Therapeutics during the first quarter worth about $320,000. American International Group Inc. grew its position in shares of Relay Therapeutics by 4.0% during the first quarter. American International Group Inc. now owns 46,686 shares of the company’s stock worth $387,000 after buying an additional 1,810 shares in the last quarter. Vanguard Group Inc. lifted its stake in Relay Therapeutics by 10.9% during the first quarter. Vanguard Group Inc. now owns 11,815,669 shares of the company’s stock worth $98,070,000 after purchasing an additional 1,165,282 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Relay Therapeutics by 14.9% during the first quarter. ProShare Advisors LLC now owns 26,214 shares of the company’s stock worth $218,000 after purchasing an additional 3,394 shares during the last quarter. 96.98% of the stock is owned by institutional investors and hedge funds.

Relay Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Relay Therapeutics (NASDAQ:RLAY)

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