Relay Therapeutics (NASDAQ:RLAY) Insider Donald Bergstrom Sells 2,252 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Donald Bergstrom sold 2,252 shares of the business’s stock in a transaction dated Wednesday, October 28th. The stock was sold at an average price of $18.62, for a total value of $41,932.24. Following the completion of the sale, the insider directly owned 396,878 shares of the company’s stock, valued at $7,389,868.36. This represents a 0.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Relay Therapeutics Stock Performance

RLAY opened at $18.35 on Friday. The company has a market cap of $4.02 billion, a PE ratio of -11.69 and a beta of 1.72. The stock has a 50-day moving average of $18.52 and a 200-day moving average of $14.95. Relay Therapeutics, Inc. has a 52-week low of $5.95 and a 52-week high of $21.27.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data 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 company had revenue of $0.35 million during the quarter, compared to analyst estimates of $0.96 million. On average, research analysts predict that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.

Institutional Trading of Relay Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP acquired a new position in shares of Relay Therapeutics during the second quarter worth approximately $34,000. GAMMA Investing LLC boosted its position in shares of Relay Therapeutics by 108.3% in the third quarter. GAMMA Investing LLC now owns 2,850 shares of the company’s stock valued at $51,000 after acquiring an additional 1,482 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Relay Therapeutics in the second quarter worth $62,000. KBC Group NV acquired a new stake in shares of Relay Therapeutics in the first quarter worth $34,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Relay Therapeutics in the second quarter worth $74,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Wall Street Analyst Weigh In

RLAY has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Zacks Research raised shares of Relay Therapeutics from a “strong sell” rating to a “hold” rating in a report on Thursday, August 20th. Citigroup reaffirmed a “market outperform” rating on shares of Relay Therapeutics in a report on Monday, August 10th. Citizens Jmp raised their target price on shares of Relay Therapeutics from $21.00 to $26.00 and gave the company a “market outperform” rating in a research note on Monday, August 10th. Finally, HC Wainwright lifted 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 issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $25.92.

Relay Therapeutics Company Profile

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.