Relay Therapeutics (NASDAQ:RLAY) Insider Sells $13,920.28 in Stock

Key Points

• Insider sale: Peter Rahmer sold 748 Relay Therapeutics shares for approximately $13,920, reducing his position by 0.33%. The sale was made to cover tax withholding obligations from vested equity awards.
• Stock performance and earnings: RLAY traded at $19.45, near its 52-week high of $20.79, but the company reported a quarterly loss of $0.41 per share and revenue of $3 million, both below analyst expectations.
• Analyst outlook: Wall Street maintains a “Moderate Buy” consensus, with an average price target of $24.92; institutional investors own nearly 97% of the company’s shares.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) insider Peter Rahmer sold 748 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total value of $13,920.28. Following the completion of the transaction, the insider directly owned 228,165 shares of the company's stock, valued at approximately $4,246,150.65. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 Tuesday, June 30th, Peter Rahmer sold 50,000 shares of Relay Therapeutics stock. The stock was sold at an average price of $19.09, for a total value of $954,500.00.

Relay Therapeutics Stock Performance

Shares of NASDAQ:RLAY traded up $1.08 during trading on Thursday, hitting $19.45. 1,865,442 shares of the stock were exchanged, compared to its average volume of 3,307,066. Relay Therapeutics, Inc. has a 1-year low of $3.03 and a 1-year high of $20.79. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of -12.39 and a beta of 1.67. The company's fifty day simple moving average is $16.94 and its 200-day simple moving average is $12.95.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.06). The firm had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.58 million. On average, research analysts forecast that Relay Therapeutics, Inc. will post -1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RLAY. Citigroup restated an "outperform" rating on shares of Relay Therapeutics in a research note on Wednesday, May 20th. The Goldman Sachs Group lifted their target price on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, July 21st. HC Wainwright increased their price target on shares of Relay Therapeutics from $25.00 to $28.00 and gave the stock a "buy" rating in a research report on Tuesday, May 26th. JonesTrading upgraded shares of Relay Therapeutics from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 19th. Finally, Oppenheimer raised their price target on shares of Relay Therapeutics from $14.00 to $18.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $24.92.

Institutional Investors Weigh In On Relay Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. Torren Management LLC acquired a new stake in shares of Relay Therapeutics in the 4th quarter valued at $30,000. KBC Group NV acquired a new stake in shares of Relay Therapeutics during the 1st quarter worth about $34,000. Smartleaf Asset Management LLC lifted its holdings 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 purchasing an additional 3,287 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Relay Therapeutics during the 4th quarter valued at about $46,000. Finally, Captrust Financial Advisors acquired a new position in Relay Therapeutics in the second quarter valued at about $49,000. Institutional investors and hedge funds 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.

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.