Relay Therapeutics, Inc. (NASDAQ:RLAY – Get Free Report) insider Peter Rahmer sold 748 shares of Relay Therapeutics stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total value of $13,920.28. Following the transaction, the insider owned 228,165 shares of the company’s stock, valued at $4,246,150.65. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at 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 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 Down 3.2%
RLAY stock opened at $18.83 on Friday. The firm has a market capitalization of $3.61 billion, a PE ratio of -11.99 and a beta of 1.67. Relay Therapeutics, Inc. has a twelve month low of $3.03 and a twelve month high of $20.79. The stock’s 50 day moving average is $17.16 and its 200-day moving average is $13.07.
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. Citigroup reiterated an “outperform” rating on shares of Relay Therapeutics in a research note on Wednesday, May 20th. HC Wainwright boosted their price target on shares of Relay Therapeutics from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. assumed coverage on shares of Relay Therapeutics in a research report on Wednesday, July 8th. They issued an “overweight” rating and a $28.00 price objective for the company. Citizens Jmp lifted their target price on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a research report on Wednesday, May 20th. Finally, Wells Fargo & Company upped their target price on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.92.
View Our Latest Research Report on Relay Therapeutics
Key Headlines Impacting Relay Therapeutics
Here are the key news stories impacting Relay Therapeutics this week:
- Positive Sentiment: Potential earnings catalyst: Zacks expects Relay Therapeutics could exceed consensus expectations in its upcoming quarterly report, which may support near-term investor sentiment. This is only an earnings preview, not a reported result. Relay Therapeutics Expected to Beat Earnings Estimates
- Positive Sentiment: Breast cancer program draws renewed interest: Coverage says Relay’s breast cancer program has revitalized the investment story, potentially expanding the company’s opportunity in oncology. Relay Therapeutics Revitalized by Breast Cancer Program
- Positive Sentiment: Institutional ownership and analyst support remain strong: Several funds increased their positions during the first quarter, and recent analyst targets generally imply additional upside. MarketBeat reports a “Moderate Buy” consensus rating with an average target of $24.92.
- Neutral Sentiment: Second-quarter results are scheduled for August 6: Relay will report financial results and corporate updates after the market close. Investors will likely focus on pipeline progress, cash resources and development plans. Relay Therapeutics Second-Quarter Results Announcement
- Neutral Sentiment: Insider selling was administrative: CFO Thomas Catinazzo and insiders Donald Bergstrom and Peter Rahmer sold a combined 4,444 shares at $18.61 to cover tax withholding on vested equity awards. Each retained substantial holdings, limiting the bearish significance of the transactions. Relay Therapeutics Insider Transactions
- Negative Sentiment: Competition and clinical risk remain material: Relay is still a clinical-stage biotechnology company, and its valuation depends heavily on successful trials and eventual commercialization. Intense competition in breast cancer could limit the program’s upside.
Institutional Investors Weigh In On Relay Therapeutics
Several institutional investors have recently added to or reduced their stakes in RLAY. Commodore Capital LP bought a new position in Relay Therapeutics during the second quarter worth about $46,191,000. Casdin Capital LLC increased its stake 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 in the last quarter. Perceptive Advisors LLC increased its stake in shares of Relay Therapeutics by 412.3% in the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after purchasing an additional 7,847,896 shares in the last quarter. Vanguard Group Inc. raised its position 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 valued at $81,990,000 after purchasing an additional 295,701 shares during the period. Finally, Bellevue Group AG raised its position 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 valued at $43,564,000 after purchasing an additional 114,740 shares during the period. 96.98% of the stock is owned by hedge funds and other institutional investors.
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.
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