Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Sells 18,276 Shares of Stock

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 business's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total transaction of $67,255.68. Following the sale, the insider directly owned 371,472 shares in the company, valued at $1,367,016.96. This trade represents a 4.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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 transaction of $6,122.38.

Relay Therapeutics Price Performance

Relay Therapeutics stock traded down $0.16 during trading hours on Friday, hitting $3.36. The company had a trading volume of 2,789,533 shares, compared to its average volume of 2,326,051. The firm has a market cap of $576.06 million, a PE ratio of -1.51 and a beta of 1.62. Relay Therapeutics, Inc. has a one year low of $1.77 and a one year high of $10.72. The firm has a 50-day moving average of $3.41 and a 200 day moving average of $3.40.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released 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 firm had revenue of $7.68 million during the quarter, compared to the consensus estimate of $0.01 million. The business's revenue for the quarter was down 23.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.62) earnings per share. As a group, research analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Institutional Trading of Relay Therapeutics

Several institutional investors have recently added to or reduced their stakes in the company. Martingale Asset Management L P boosted its stake in Relay Therapeutics by 3.5% in the 4th quarter. Martingale Asset Management L P now owns 80,371 shares of the company's stock valued at $331,000 after purchasing an additional 2,700 shares during the period. Virtus ETF Advisers LLC grew its position in shares of Relay Therapeutics by 26.2% during the 4th quarter. Virtus ETF Advisers LLC now owns 14,873 shares of the company's stock worth $61,000 after purchasing an additional 3,092 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Relay Therapeutics by 1.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 218,872 shares of the company's stock worth $902,000 after purchasing an additional 3,325 shares in the last quarter. Summit Investment Advisors Inc. grew its position in shares of Relay Therapeutics by 41.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 12,730 shares of the company's stock worth $52,000 after purchasing an additional 3,760 shares in the last quarter. Finally, Hsbc Holdings PLC grew its position in shares of Relay Therapeutics by 4.2% during the 1st quarter. Hsbc Holdings PLC now owns 116,408 shares of the company's stock worth $300,000 after purchasing an additional 4,639 shares in the last quarter. 96.98% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on RLAY. Wells Fargo & Company began coverage on shares of Relay Therapeutics in a research note on Thursday, April 17th. They set an "equal weight" rating and a $4.00 price objective on the stock. Guggenheim lowered their price objective on shares of Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Relay Therapeutics presently has a consensus rating of "Moderate Buy" and an average target price of $17.67.

About Relay Therapeutics

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.