Key Points
- Relay Therapeutics insider Peter Rahmer sold 753 shares at an average price of $18.62, totaling $14,020.86. The sale covered tax withholding tied to vested equity awards, leaving him with 222,904 shares.
- RLAY shares opened at $18.35, with a market capitalization of approximately $4.02 billion and a 52-week range of $5.95 to $21.27. The company recently reported a quarterly loss of $0.41 per share, slightly worse than analyst estimates.
- Institutional investors own about 96.98% of the stock, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $25.92, despite one sell rating.
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 Wednesday, October 28th. The stock was sold at an average price of $18.62, for a total transaction of $14,020.86. Following the transaction, the insider owned 222,904 shares of the company's stock, valued at approximately $4,150,472.48. This represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 Wednesday, August 26th, Peter Rahmer sold 4,508 shares of Relay Therapeutics stock. The shares were sold at an average price of $20.03, for a total transaction of $90,295.24.
Relay Therapeutics Price Performance
Shares of Relay Therapeutics stock opened at $18.35 on Friday. Relay Therapeutics, Inc. has a fifty-two week low of $5.95 and a fifty-two week high of $21.27. The firm has a market capitalization of $4.02 billion, a P/E ratio of -11.69 and a beta of 1.72. The company's 50 day moving average price is $18.52 and its two-hundred day moving average price is $14.95.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.39) by ($0.02). The business had revenue of $0.35 million for the quarter, compared to analysts' expectations of $0.96 million. On average, analysts expect that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.
Hedge Funds Weigh In On Relay Therapeutics
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Relay Therapeutics during the third quarter valued at $202,000. ProShare Advisors LLC lifted its holdings in shares of Relay Therapeutics by 8.0% during the third quarter. ProShare Advisors LLC now owns 30,462 shares of the company's stock worth $550,000 after purchasing an additional 2,265 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Relay Therapeutics by 17.1% during the third quarter. China Universal Asset Management Co. Ltd. now owns 39,985 shares of the company's stock worth $734,000 after purchasing an additional 5,847 shares during the period. Lighthouse Financial LLC acquired a new position in shares of Relay Therapeutics during the third quarter worth $389,000. Finally, Sterling Capital Management LLC grew its stake in shares of Relay Therapeutics by 381.6% in the third quarter. Sterling Capital Management LLC now owns 5,485 shares of the company's stock worth $99,000 after purchasing an additional 4,346 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on RLAY shares. Citizens Jmp raised their price objective on Relay Therapeutics from $21.00 to $26.00 and gave the company a "market outperform" rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Relay Therapeutics in a report on Friday, October 2nd. JPMorgan Chase & Co. increased their target price on Relay Therapeutics from $28.00 to $31.00 and gave the company an "overweight" rating in a research report on Friday, August 14th. Citigroup reiterated a "market outperform" rating on shares of Relay Therapeutics in a research report on Monday, August 10th. Finally, The Goldman Sachs Group lifted their price target on Relay Therapeutics from $22.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $25.92.
View Our Latest Stock Report on Relay Therapeutics
About Relay Therapeutics
(
Get Free Report)
Relay Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines for cancer and other serious diseases. The company uses its Dynamo platform, which combines structural biology, computational modeling, machine learning and experimental science to study how proteins move and interact. Relay aims to use this approach to identify precisely targeted therapies, including medicines designed to bind to previously difficult-to-drug sites.
The company's pipeline has primarily focused on oncology, including investigational small-molecule therapies directed at cancer-driving proteins and signaling pathways.
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