Peter Rahmer Sells 50,000 Shares of Relay Therapeutics (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Peter Rahmer sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $19.09, for a total value of $954,500.00. Following the sale, the insider owned 225,857 shares in the company, valued at approximately $4,311,610.13. This represents a 18.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Peter Rahmer also recently made the following trade(s):

• On Tuesday, April 28th, Peter Rahmer sold 753 shares of Relay Therapeutics stock. The shares were sold at an average price of $14.79, for a total value of $11,136.87.

Relay Therapeutics Price Performance

Shares of RLAY stock opened at $18.65 on Friday. Relay Therapeutics, Inc. has a one year low of $3.03 and a one year high of $19.93. The stock has a fifty day moving average price of $14.74 and a 200 day moving average price of $11.55. The stock has a market cap of $3.57 billion, a P/E ratio of -11.88 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $5.58 million. Equities research analysts anticipate that Relay Therapeutics, Inc. will post -1.55 EPS for the current year.

Wall Street Analyst Weigh In

RLAY has been the topic of a number of analyst reports. Citigroup reissued an “outperform” rating on shares of Relay Therapeutics in a research note on Wednesday, May 20th. Guggenheim raised their price target on shares of Relay Therapeutics from $22.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. The Goldman Sachs Group lifted their price objective on Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Barclays upped their price objective on Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Finally, Citizens Jmp increased their target price on Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 20th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $23.30.

Institutional Investors Weigh In On Relay Therapeutics

Several large investors have recently made changes to their positions in RLAY. AQR Capital Management LLC lifted its holdings in Relay Therapeutics by 11.9% during the 1st quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock valued at $956,000 after purchasing an additional 38,812 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Relay Therapeutics by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock valued at $221,000 after buying an additional 5,238 shares in the last quarter. Millennium Management LLC grew its stake in Relay Therapeutics by 14.6% during the first quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after buying an additional 374,491 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Relay Therapeutics during the first quarter worth about $53,000. Finally, Woodline Partners LP grew its stake in Relay Therapeutics by 448.4% during the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after buying an additional 1,241,657 shares during the last quarter. Institutional investors own 96.98% of the company’s stock.

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.