Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) insider Peter Rahmer sold 753 shares of the company's stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $14.79, for a total value of $11,136.87. Following the completion of the transaction, the insider owned 275,857 shares in the company, valued at approximately $4,079,925.03. The trade was a 0.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Relay Therapeutics Trading Up 3.1%
Relay Therapeutics stock opened at $12.96 on Friday. Relay Therapeutics, Inc. has a 12 month low of $2.67 and a 12 month high of $17.32. The business's 50 day simple moving average is $11.87 and its 200 day simple moving average is $9.13. The company has a market cap of $2.48 billion, a price-to-earnings ratio of -8.00 and a beta of 1.57.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.06. The firm had revenue of $7.00 million during the quarter, compared to analysts' expectations of $4.34 million. As a group, equities research analysts forecast that Relay Therapeutics, Inc. will post -1.51 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have issued reports on RLAY shares. HC Wainwright increased their target price on Relay Therapeutics from $19.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday. Citigroup restated an "outperform" rating on shares of Relay Therapeutics in a research report on Tuesday. The Goldman Sachs Group increased their target price on Relay Therapeutics from $13.00 to $22.00 and gave the stock a "buy" rating in a research report on Tuesday. Oppenheimer increased their target price on Relay Therapeutics from $14.00 to $18.00 and gave the stock an "outperform" rating in a research report on Tuesday. Finally, Citizens Jmp increased their target price on Relay Therapeutics from $17.00 to $19.00 and gave the stock a "market outperform" rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $20.56.
Get Our Latest Stock Report on RLAY
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the company. Commodore Capital LP increased its holdings in shares of Relay Therapeutics by 27.3% in the third quarter. Commodore Capital LP now owns 17,000,000 shares of the company's stock worth $88,740,000 after purchasing an additional 3,650,000 shares during the period. Casdin Capital LLC increased its holdings in shares of Relay Therapeutics by 14.7% in the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company's stock worth $110,010,000 after purchasing an additional 1,662,193 shares during the period. Vanguard Group Inc. increased its holdings in shares of Relay Therapeutics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company's stock worth $81,990,000 after purchasing an additional 295,701 shares during the period. Bellevue Group AG increased its holdings in shares of Relay Therapeutics by 1.4% in the third quarter. Bellevue Group AG now owns 8,345,610 shares of the company's stock worth $43,564,000 after purchasing an additional 114,740 shares during the period. Finally, State Street Corp increased its holdings in shares of Relay Therapeutics by 26.8% in the fourth quarter. State Street Corp now owns 6,426,111 shares of the company's stock worth $54,365,000 after purchasing an additional 1,360,121 shares during the period. Institutional investors own 96.98% of the company's stock.
About Relay Therapeutics
(
Get Free Report)
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.
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