Relay Therapeutics (NASDAQ:RLAY) Insider Donald Bergstrom Sells 8,660 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Donald Bergstrom sold 8,660 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $18.71, for a total transaction of $162,028.60. Following the sale, the insider owned 409,897 shares of the company’s stock, valued at approximately $7,669,172.87. The trade was a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Relay Therapeutics Trading Down 0.6%

Shares of NASDAQ:RLAY opened at $19.63 on Thursday. The stock has a market capitalization of $3.76 billion, a P/E ratio of -12.50 and a beta of 1.67. The stock’s 50-day moving average price is $15.00 and its 200-day moving average price is $11.81. Relay Therapeutics, Inc. has a 12-month low of $3.03 and a 12-month high of $20.20.

Relay Therapeutics (NASDAQ:RLAY) last released 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 firm had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.58 million. As a group, research analysts predict that Relay Therapeutics, Inc. will post -1.55 EPS for the current year.

Wall Street Analyst Weigh In

RLAY has been the subject of several recent research reports. Wall Street Zen upgraded Relay Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Monday. 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 note on Wednesday, May 20th. JPMorgan Chase & Co. assumed coverage on shares of Relay Therapeutics in a report on Wednesday. They set an “overweight” rating and a $28.00 price target for the company. Finally, Wells Fargo & Company increased their price target on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $23.73.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of RLAY. Commodore Capital LP bought a new position in Relay Therapeutics during the 2nd quarter valued at approximately $46,191,000. Perceptive Advisors LLC grew its position in shares of Relay Therapeutics by 412.3% in the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after buying an additional 7,847,896 shares during the last quarter. Spruce Street Capital LP bought a new stake in shares of Relay Therapeutics in the 4th quarter worth approximately $25,246,000. EcoR1 Capital LLC purchased a new position in shares of Relay Therapeutics during the first quarter valued at approximately $18,952,000. Finally, TCG Crossover Management LLC purchased a new position in shares of Relay Therapeutics during the third quarter valued at approximately $9,450,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

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.