Relay Therapeutics (NASDAQ:RLAY) Insider Sells $11,136.87 in Stock

Key Points

• Insider sale: Peter Rahmer sold 753 shares on April 28 at an average price of $14.79 for $11,136.87 to cover tax withholding on vested awards, cutting his stake by 0.27% to 275,857 shares (worth about $4.08M).
• Earnings and outlook: Relay beat Q4 EPS estimates (reported ($0.32) vs. ($0.38) expected) with $7.0M revenue, the stock trades near $12.96 with a $2.32B market cap, and analysts collectively rate it a “Moderate Buy” with a $20.56 consensus price target after multiple target upgrades.
• Institutional concentration: Institutional investors and hedge funds hold roughly 96.98% of Relay’s shares, despite several small recent institutional buys reported.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) insider Peter Rahmer sold 753 shares of the 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 completion of the transaction, the insider directly owned 275,857 shares of the company's stock, valued at $4,079,925.03. The trade was a 0.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Relay Therapeutics Stock Performance

RLAY stock traded up $0.39 during trading on Thursday, reaching $12.96. The company had a trading volume of 2,389,616 shares, 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. Relay Therapeutics, Inc. has a twelve month low of $2.67 and a twelve month high of $17.32. The firm has a 50-day simple moving average of $11.79 and a 200-day simple moving average of $9.10.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.32) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.38) by $0.06. The company had revenue of $7.00 million for the quarter, compared to analyst estimates of $4.34 million. Sell-side analysts expect that Relay Therapeutics, Inc. will post -1.51 earnings per share for the current year.

Analyst Ratings Changes

RLAY has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on Relay Therapeutics from $17.00 to $21.00 and gave the stock an "overweight" rating in a research note on Tuesday. Citigroup restated an "outperform" rating on shares of Relay Therapeutics in a research note on Tuesday. Oppenheimer raised their target price on Relay Therapeutics from $14.00 to $18.00 and gave the stock an "outperform" rating in a research note on Tuesday. HC Wainwright raised their target price on Relay Therapeutics from $19.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Guggenheim lifted their price objective on shares of Relay Therapeutics from $15.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.56.

Institutional Trading of Relay Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of RLAY. Torren Management LLC acquired a new stake in Relay Therapeutics during the 4th quarter valued at approximately $30,000. Smartleaf Asset Management LLC lifted its stake in Relay Therapeutics by 288.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company's stock valued at $37,000 after acquiring an additional 3,287 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in shares of Relay Therapeutics during the 4th quarter valued at approximately $46,000. Captrust Financial Advisors purchased a new position in shares of Relay Therapeutics during the 2nd quarter valued at approximately $49,000. Finally, Cerity Partners LLC purchased a new position in shares of Relay Therapeutics during the 2nd quarter valued at approximately $51,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

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.

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.