Peter Rahmer Sells 20,450 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAYGet Free Report) insider Peter Rahmer sold 20,450 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $7.06, for a total transaction of $144,377.00. Following the completion of the sale, the insider now directly owns 432,425 shares of the company’s stock, valued at $3,052,920.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

  • On Monday, June 3rd, Peter Rahmer sold 19,864 shares of Relay Therapeutics stock. The shares were sold at an average price of $6.47, for a total transaction of $128,520.08.
  • On Monday, April 29th, Peter Rahmer sold 1,345 shares of Relay Therapeutics stock. The shares were sold at an average price of $6.38, for a total transaction of $8,581.10.

Relay Therapeutics Trading Down 1.0 %

Shares of RLAY opened at $7.27 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $5.70 and a fifty-two week high of $13.32. The business’s 50-day moving average is $6.79 and its 200-day moving average is $8.70.

Relay Therapeutics (NASDAQ:RLAYGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.08. The company had revenue of $10.01 million for the quarter, compared to the consensus estimate of $0.12 million. Relay Therapeutics had a negative return on equity of 42.66% and a negative net margin of 1,263.49%. The firm’s quarterly revenue was up 4327.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.78) EPS. Sell-side analysts predict that Relay Therapeutics, Inc. will post -2.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Finepoint Capital LP increased its holdings in Relay Therapeutics by 51.3% in the fourth quarter. Finepoint Capital LP now owns 1,317,870 shares of the company’s stock worth $14,510,000 after buying an additional 447,000 shares during the last quarter. Norges Bank acquired a new position in Relay Therapeutics in the fourth quarter worth approximately $33,789,000. Algert Global LLC increased its holdings in Relay Therapeutics by 61.6% in the third quarter. Algert Global LLC now owns 200,823 shares of the company’s stock worth $1,689,000 after buying an additional 76,573 shares during the last quarter. Affinity Asset Advisors LLC acquired a new position in Relay Therapeutics in the fourth quarter worth approximately $3,303,000. Finally, Quest Partners LLC acquired a new position in Relay Therapeutics in the fourth quarter worth approximately $147,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Wall Street Analyst Weigh In

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

Check Out Our Latest Analysis on RLAY

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.

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

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