Donald Bergstrom Sells 2,237 Shares of Relay Therapeutics (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Donald Bergstrom sold 2,237 shares of the firm’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $18.61, for a total value of $41,630.57. Following the completion of the sale, the insider directly owned 407,660 shares of the company’s stock, valued at approximately $7,586,552.60. This trade represents a 0.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Relay Therapeutics Trading Down 3.2%

NASDAQ:RLAY opened at $18.83 on Friday. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of -11.99 and a beta of 1.67. Relay Therapeutics, Inc. has a 1-year low of $3.03 and a 1-year high of $20.79. The business’s fifty day moving average price is $17.16 and its 200 day moving average price is $13.07.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The company had revenue of $3.00 million during the quarter, compared to analysts’ expectations of $5.58 million. Equities analysts forecast that Relay Therapeutics, Inc. will post -1.57 earnings per share for the current year.

Analyst Ratings Changes

RLAY has been the subject of several research reports. JPMorgan Chase & Co. assumed coverage on shares of Relay Therapeutics in a report on Wednesday, July 8th. They set an “overweight” rating and a $28.00 price target for the company. Citigroup reiterated an “outperform” rating on shares of Relay Therapeutics in a research note on Wednesday, May 20th. Citizens Jmp increased 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 report on Wednesday, May 20th. Raymond James Financial reissued a “strong-buy” rating on shares of Relay Therapeutics in a research note on Tuesday, May 19th. Finally, Wall Street Zen upgraded shares of Relay Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, June 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.92.

Relay Therapeutics News Roundup

Here are the key news stories impacting Relay Therapeutics this week:

• Positive Sentiment: Potential earnings catalyst: Zacks expects Relay Therapeutics could exceed consensus expectations in its upcoming quarterly report, which may support near-term investor sentiment. This is only an earnings preview, not a reported result. Relay Therapeutics Expected to Beat Earnings Estimates
• Positive Sentiment: Breast cancer program draws renewed interest: Coverage says Relay’s breast cancer program has revitalized the investment story, potentially expanding the company’s opportunity in oncology. Relay Therapeutics Revitalized by Breast Cancer Program
• Positive Sentiment: Institutional ownership and analyst support remain strong: Several funds increased their positions during the first quarter, and recent analyst targets generally imply additional upside. MarketBeat reports a “Moderate Buy” consensus rating with an average target of $24.92.
• Neutral Sentiment: Second-quarter results are scheduled for August 6: Relay will report financial results and corporate updates after the market close. Investors will likely focus on pipeline progress, cash resources and development plans. Relay Therapeutics Second-Quarter Results Announcement
• Neutral Sentiment: Insider selling was administrative: CFO Thomas Catinazzo and insiders Donald Bergstrom and Peter Rahmer sold a combined 4,444 shares at $18.61 to cover tax withholding on vested equity awards. Each retained substantial holdings, limiting the bearish significance of the transactions. Relay Therapeutics Insider Transactions
• Negative Sentiment: Competition and clinical risk remain material: Relay is still a clinical-stage biotechnology company, and its valuation depends heavily on successful trials and eventual commercialization. Intense competition in breast cancer could limit the program’s upside.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds have recently added to or reduced their stakes in RLAY. SG Americas Securities LLC lifted its stake in Relay Therapeutics by 591.7% in the fourth quarter. SG Americas Securities LLC now owns 220,949 shares of the company’s stock valued at $1,869,000 after acquiring an additional 189,004 shares during the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Relay Therapeutics during the 3rd quarter worth $399,000. Sanctuary Advisors LLC acquired a new position in shares of Relay Therapeutics during the 4th quarter worth $1,203,000. Affinity Asset Advisors LLC acquired a new position in shares of Relay Therapeutics during the 1st quarter worth $3,980,000. Finally, Elmind Capital LP bought a new position in shares of Relay Therapeutics during the 4th quarter valued at $4,543,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

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.