Relay Therapeutics (NASDAQ:RLAY) Insider Sells $14,020.86 in Stock

Key Points

• Relay Therapeutics insider Peter Rahmer sold 753 shares for $14,020.86 at an average price of $18.62 to cover tax withholding tied to vested equity awards. His remaining stake totaled 222,904 shares, and the sale reduced his position by 0.34%.
• RLAY shares traded at $18.35, with a market capitalization of approximately $4.02 billion. The company recently reported a quarterly loss of $0.41 per share and revenue of $0.35 million, both weaker than analyst expectations.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $25.92; institutional investors own 96.98% of outstanding shares.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) insider Peter Rahmer sold 753 shares of the business's stock in a transaction on Wednesday, October 28th. The stock was sold at an average price of $18.62, for a total value of $14,020.86. Following the sale, the insider owned 222,904 shares of the company's stock, valued at approximately $4,150,472.48. The trade was a 0.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock traded down $1.12 during midday trading on Friday, hitting $18.35. 3,595,892 shares of the company's stock were exchanged, compared to its average volume of 3,131,055. Relay Therapeutics, Inc. has a one year low of $5.95 and a one year high of $21.27. The stock's fifty day moving average price is $18.54 and its 200-day moving average price is $14.90. The company has a market cap of $4.02 billion, a PE ratio of -11.69 and a beta of 1.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.02). The business had revenue of $0.35 million during the quarter, compared to analysts' expectations of $0.96 million. On average, analysts expect that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. KBC Group NV bought a new stake in Relay Therapeutics in the first quarter worth about $34,000. Allworth Financial LP bought a new position in shares of Relay Therapeutics during the 2nd quarter worth $34,000. GAMMA Investing LLC raised its stake in Relay Therapeutics by 108.3% in the 3rd quarter. GAMMA Investing LLC now owns 2,850 shares of the company's stock valued at $51,000 after acquiring an additional 1,482 shares during the period. Meeder Asset Management Inc. bought a new position in Relay Therapeutics during the second quarter worth about $62,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Relay Therapeutics during the 2nd quarter valued at approximately $74,000. Hedge funds and other institutional investors own 96.98% of the company's stock.

Wall Street Analysts Forecast Growth

RLAY has been the subject of a number of analyst reports. Zacks Research upgraded shares of Relay Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Thursday, August 20th. JPMorgan Chase & Co. boosted their price target 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 downgraded shares of Relay Therapeutics from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Canaccord Genuity Group assumed coverage on shares of Relay Therapeutics in a report on Thursday, July 16th. They set a "buy" rating and a $29.00 price target for the company. Finally, Barclays boosted their price objective on shares of Relay Therapeutics from $27.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Relay Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $25.92.

About Relay Therapeutics

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.