Relay Therapeutics (NASDAQ:RLAY) Insider Peter Rahmer Sells 753 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 753 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $14.79, for a total transaction of $11,136.87. Following the transaction, the insider directly owned 275,857 shares of the company’s stock, valued at approximately $4,079,925.03. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Relay Therapeutics Stock Up 3.1%

Shares of NASDAQ:RLAY traded up $0.39 during trading on Thursday, hitting $12.96. 2,389,616 shares of the stock traded hands, compared to its average volume of 2,773,398. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -8.00 and a beta of 1.57. The company has a fifty day moving average price of $11.79 and a two-hundred day moving average price of $9.10. Relay Therapeutics, Inc. has a 52-week low of $2.67 and a 52-week high of $17.32.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.06. The firm had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $4.34 million. On average, equities research analysts predict that Relay Therapeutics, Inc. will post -1.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday. Guggenheim boosted their price target on shares of Relay Therapeutics from $15.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Barclays lifted their target price on shares of Relay Therapeutics from $17.00 to $21.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 8th. Citizens Jmp lifted their target price on shares of Relay Therapeutics from $17.00 to $19.00 and gave the stock a “market outperform” rating in a research note on Tuesday. Finally, Wells Fargo & Company boosted their price target on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.56.

Institutional Trading of Relay Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commodore Capital LP boosted its position in shares of Relay Therapeutics by 27.3% during the third quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock worth $88,740,000 after buying an additional 3,650,000 shares during the period. Casdin Capital LLC lifted its stake in Relay Therapeutics by 14.7% during the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock worth $110,010,000 after acquiring an additional 1,662,193 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Relay Therapeutics by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock valued at $81,990,000 after acquiring an additional 295,701 shares during the period. Bellevue Group AG boosted its holdings in Relay Therapeutics by 1.4% during the 3rd quarter. Bellevue Group AG now owns 8,345,610 shares of the company’s stock valued at $43,564,000 after acquiring an additional 114,740 shares during the period. Finally, State Street Corp grew its position in Relay Therapeutics by 26.8% in the 4th quarter. State Street Corp now owns 6,426,111 shares of the company’s stock valued at $54,365,000 after acquiring an additional 1,360,121 shares in the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.

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.