Insider Selling: Relay Therapeutics (NASDAQ:RLAY) Major Shareholder Sells 6,000,000 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) major shareholder Pauling (Cayman) Ltd Svf sold 6,000,000 shares of the business’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $19.40, for a total value of $116,400,000.00. Following the completion of the sale, the insider directly owned 21,904,963 shares of the company’s stock, valued at approximately $424,956,282.20. This represents a 21.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Relay Therapeutics Stock Down 3.6%

NASDAQ:RLAY traded down $0.70 during trading hours on Friday, reaching $18.72. 732,845 shares of the stock were exchanged, compared to its average volume of 3,155,281. The firm has a 50 day simple moving average of $19.21 and a 200-day simple moving average of $14.71. Relay Therapeutics, Inc. has a 52 week low of $3.52 and a 52 week high of $21.27. The stock has a market capitalization of $4.10 billion, a P/E ratio of -11.92 and a beta of 1.69.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly 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 firm had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. As a group, analysts expect that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on RLAY shares. The Goldman Sachs Group boosted their target price on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a report on Monday, July 6th. Canaccord Genuity Group began coverage on shares of Relay Therapeutics in a research report on Thursday, July 16th. They set a “buy” rating and a $29.00 price objective for the company. Barclays boosted their price objective on shares of Relay Therapeutics from $27.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 7th. Finally, HC Wainwright raised their target price on shares of Relay Therapeutics from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Relay Therapeutics presently has an average rating of “Moderate Buy” and an average price target of $25.92.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Relay Therapeutics in the second quarter valued at $784,000. California State Teachers Retirement System grew its position in shares of Relay Therapeutics by 1,726.3% during the second quarter. California State Teachers Retirement System now owns 3,179,652 shares of the company’s stock worth $59,491,000 after acquiring an additional 3,005,553 shares during the last quarter. Frazier Life Sciences Management L.P. bought a new position in shares of Relay Therapeutics during the second quarter worth about $19,004,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Relay Therapeutics in the 2nd quarter worth about $366,000. Finally, Moore Capital Management LP bought a new stake in Relay Therapeutics in the 2nd quarter valued at about $7,746,000. 96.98% of the stock is currently owned by institutional investors.

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.