Peter Rahmer Sells 4,508 Shares of Relay Therapeutics (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 4,508 shares of Relay Therapeutics stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $20.03, for a total value of $90,295.24. Following the transaction, the insider owned 223,657 shares of the company’s stock, valued at $4,479,849.71. This represents a 1.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

Relay Therapeutics Stock Down 3.3%

Shares of NASDAQ:RLAY opened at $18.77 on Friday. The company has a market cap of $4.11 billion, a P/E ratio of -11.96 and a beta of 1.69. The business has a fifty day simple moving average of $19.27 and a 200-day simple moving average of $14.74. Relay Therapeutics, Inc. has a 52 week low of $3.52 and a 52 week high of $21.27.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The firm had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. Sell-side analysts expect that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Relay Therapeutics

Several large investors have recently modified their holdings of the stock. Torren Management LLC acquired a new position in shares of Relay Therapeutics in the 4th quarter valued at about $30,000. KBC Group NV bought a new stake in shares of Relay Therapeutics during the 1st quarter valued at about $34,000. Allworth Financial LP acquired a new stake in Relay Therapeutics during the second quarter worth about $34,000. Smartleaf Asset Management LLC raised its stake in Relay Therapeutics by 288.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after acquiring an additional 3,287 shares during the period. Finally, Caitong International Asset Management Co. Ltd bought a new position in Relay Therapeutics in the fourth quarter worth about $46,000. Institutional investors own 96.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RLAY. JPMorgan Chase & Co. increased their target price on Relay Therapeutics from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Wall Street Zen lowered Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Guggenheim restated a “buy” rating on shares of Relay Therapeutics in a report on Friday, August 7th. UBS Group set a $26.00 price objective on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued 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 target price of $25.92.

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.