Key Points
- Insider sale: Relay Therapeutics insider Peter Rahmer sold 50,000 shares on June 30 at an average price of $19.09, totaling about $954,500. After the sale, he still held 225,857 shares.
- Stock performance: RLAY traded up 5.0% and opened at $18.65, near its 12-month high of $19.93. The company has a market cap of $3.57 billion.
- Analyst sentiment: Analysts remain mostly positive, with an average rating of Buy and an average price target of $23.30. Recent price targets from firms like UBS, Goldman Sachs, and HC Wainwright were all raised or reiterated at bullish levels.
Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) insider Peter Rahmer sold 50,000 shares of Relay Therapeutics stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $19.09, for a total value of $954,500.00. Following the completion of the sale, the insider directly owned 225,857 shares of the company's stock, valued at $4,311,610.13. The trade was a 18.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
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 transaction of $11,136.87.
Relay Therapeutics Trading Up 5.0%
Shares of RLAY stock opened at $18.65 on Friday. 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, Inc. has a 12 month low of $3.03 and a 12 month high of $19.93. The company has a 50 day simple moving average of $14.70 and a two-hundred day simple moving average of $11.50.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.06). The company had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.58 million. As a group, equities analysts forecast that Relay Therapeutics, Inc. will post -1.55 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts have recently commented on RLAY shares. Citizens Jmp raised their price objective on shares of Relay Therapeutics from $19.00 to $21.00 and gave the company a "market outperform" rating in a research report on Wednesday, May 20th. UBS Group set a $26.00 target price on shares of Relay Therapeutics in a report on Tuesday, May 19th. Citigroup reiterated an "outperform" rating on shares of Relay Therapeutics in a research note on Wednesday, May 20th. The Goldman Sachs Group boosted their price objective on Relay Therapeutics from $13.00 to $22.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Finally, HC Wainwright upped their price objective on Relay Therapeutics from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $23.30.
Check Out Our Latest Stock Report on Relay Therapeutics
Hedge Funds Weigh In On Relay Therapeutics
A number of institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in shares of 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. lifted 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 worth $221,000 after buying an additional 5,238 shares during the last quarter. Millennium Management LLC boosted 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 period. Dynamic Technology Lab Private Ltd bought a new position in Relay Therapeutics during the first quarter valued at $53,000. Finally, Woodline Partners LP raised its stake in shares of Relay Therapeutics by 448.4% in the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company's stock valued at $3,979,000 after acquiring an additional 1,241,657 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.
Relay Therapeutics Company Profile
(
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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