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Relay Therapeutics executive sells shares for tax obligations

Published 2024-04-29, 08:40 p/m
RLAY
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Relay Therapeutics, Inc. (NASDAQ:RLAY) executive Peter Rahmer, the company's Chief Corporate Development Officer, recently sold shares in a transaction connected to the vesting of restricted stock units (RSUs). The sale, which occurred on April 29, 2024, was not based on Rahmer's discretion but was carried out in accordance with the company's policies regarding RSU vesting.

The transaction involved the sale of 1,345 shares of common stock at a price of $6.38 per share, totaling approximately $8,581. This sale was specifically to cover Rahmer's income tax withholding obligations upon the vesting of 5,505 shares of RSUs on April 27, 2024. Following this sale, Rahmer continues to have a significant stake in the company, with 513,334 shares owned, which includes 465,343 shares underlying RSUs.

Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's stock value. In this case, the sale was a routine part of compensation and tax planning, rather than a discretionary market trade.

Relay Therapeutics, based in Cambridge, Massachusetts, operates within the biotechnology sector, focusing on developing therapies at the intersection of chemistry and biology. The company's stock trades on the NASDAQ exchange under the ticker symbol RLAY.

InvestingPro Insights

Relay Therapeutics (NASDAQ:RLAY) has recently shown a significant return over the last week with a price total return of 11.69%, despite a more challenging longer-term performance with a year-to-date price total return of -40.15% as of April 29, 2024. The company's market capitalization stands at $872.09 million, reflecting investor valuation of the company in the current market.

One of the notable InvestingPro Tips for Relay Therapeutics is that analysts have revised their earnings expectations upwards for the upcoming period, which could indicate potential optimism regarding the company's future performance. However, it is also important to note that the company is not expected to be profitable this year, and the stock price has been quite volatile, with a one-month price total return of -20.6%.

From a financial health perspective, Relay Therapeutics holds more cash than debt on its balance sheet, which is a positive sign of the company's ability to manage its financial obligations. The company's gross profit margins have been weak, as indicated by a gross profit margin of -1177.64% for the last twelve months as of Q4 2023. This suggests that the company is spending more to produce its goods than it is earning from sales, which could be a point of concern for investors.

For those looking to delve deeper into Relay Therapeutics' financials and future prospects, there are additional InvestingPro Tips available at https://www.investing.com/pro/RLAY. Using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access these insights. There are a total of 11 additional InvestingPro Tips listed, which may provide further valuable information for making informed investment decisions.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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