Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Brian Adams Sells 18,276 Shares

Key Points

• Brian Adams, an insider at Relay Therapeutics, sold 18,276 shares at an average price of $3.68, resulting in a total transaction of $67,255.68, which decreased his ownership by 4.69%.
• The company's stock has shown a 12-month range between $1.77 and $10.72, with a market cap of $622.36 million and a negative P/E ratio of -1.63.
• Relay Therapeutics reported a quarterly revenue of $7.68 million, surpassing analysts' estimates, despite a year-over-year decline of 23%.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) insider Brian Adams sold 18,276 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $3.68, for a total value of $67,255.68. Following the completion of the sale, the insider owned 371,472 shares in the company, valued at approximately $1,367,016.96. This represents a 4.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Brian Adams also recently made the following trade(s):

• On Monday, July 28th, Brian Adams sold 1,637 shares of Relay Therapeutics stock. The stock was sold at an average price of $3.74, for a total value of $6,122.38.

Relay Therapeutics Trading Down 4.5%

Shares of Relay Therapeutics stock traded down $0.16 on Friday, hitting $3.36. The stock had a trading volume of 2,789,533 shares, compared to its average volume of 2,643,379. Relay Therapeutics, Inc. has a 52-week low of $1.77 and a 52-week high of $10.72. The stock has a market cap of $576.07 million, a price-to-earnings ratio of -1.51 and a beta of 1.62. The company's 50 day moving average price is $3.42 and its 200 day moving average price is $3.39.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.04. The company had revenue of $7.68 million during the quarter, compared to analyst estimates of $0.01 million. The business's revenue was down 23.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.62) EPS. Analysts predict that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Relay Therapeutics

Several institutional investors have recently added to or reduced their stakes in RLAY. Raymond James Financial Inc. acquired a new position in Relay Therapeutics in the 4th quarter valued at about $779,000. Thrivent Financial for Lutherans increased its position in Relay Therapeutics by 3.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 166,668 shares of the company's stock valued at $687,000 after acquiring an additional 6,210 shares during the period. Teacher Retirement System of Texas increased its position in Relay Therapeutics by 19.5% in the 4th quarter. Teacher Retirement System of Texas now owns 33,720 shares of the company's stock valued at $139,000 after acquiring an additional 5,492 shares during the period. American Century Companies Inc. increased its position in Relay Therapeutics by 23.3% in the 4th quarter. American Century Companies Inc. now owns 272,166 shares of the company's stock valued at $1,121,000 after acquiring an additional 51,499 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Relay Therapeutics during the 4th quarter worth approximately $102,000. Institutional investors and hedge funds own 96.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on RLAY shares. Wells Fargo & Company started coverage on Relay Therapeutics in a report on Thursday, April 17th. They set an "equal weight" rating and a $4.00 price target for the company. Guggenheim decreased their price target on Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.67.

Relay Therapeutics Company Profile

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.