Relay Therapeutics (NASDAQ:RLAY) Insider Sells $1,583,144.64 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Donald Bergstrom sold 93,456 shares of the business’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the transaction, the insider owned 418,557 shares in the company, valued at $7,090,355.58. This represents a 18.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Relay Therapeutics Stock Up 4.1%

NASDAQ RLAY opened at $18.56 on Friday. Relay Therapeutics, Inc. has a twelve month low of $3.03 and a twelve month high of $18.94. The firm has a market capitalization of $3.56 billion, a PE ratio of -11.82 and a beta of 1.75. The stock’s 50 day moving average is $14.52 and its 200 day moving average is $11.16.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The business had revenue of $3.00 million for the quarter, compared to analyst estimates of $5.58 million. On average, research analysts anticipate that Relay Therapeutics, Inc. will post -1.55 earnings per share for the current year.

Institutional Trading of Relay Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RLAY. Sanctuary Advisors LLC lifted its holdings in Relay Therapeutics by 1.1% in the 1st quarter. Sanctuary Advisors LLC now owns 143,816 shares of the company’s stock worth $1,431,000 after purchasing an additional 1,588 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Relay Therapeutics by 26.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,422 shares of the company’s stock valued at $71,000 after buying an additional 1,757 shares in the last quarter. Abel Hall LLC raised its position in shares of Relay Therapeutics by 16.2% during the fourth quarter. Abel Hall LLC now owns 12,984 shares of the company’s stock valued at $110,000 after buying an additional 1,809 shares during the last quarter. Cresset Asset Management LLC raised its position in shares of Relay Therapeutics by 5.0% during the third quarter. Cresset Asset Management LLC now owns 38,932 shares of the company’s stock valued at $203,000 after buying an additional 1,848 shares during the last quarter. Finally, Prelude Capital Management LLC lifted its holdings in shares of Relay Therapeutics by 18.7% in the third quarter. Prelude Capital Management LLC now owns 19,700 shares of the company’s stock worth $103,000 after buying an additional 3,100 shares in the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RLAY. Wall Street Zen upgraded shares of Relay Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Wednesday, April 8th. Wells Fargo & Company increased their price target on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Barclays raised their price target on Relay Therapeutics from $21.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday, May 20th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $23.30.

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.