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 stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $16.94, for a total value of $1,583,144.64. Following the completion of the transaction, the insider directly owned 418,557 shares in the company, valued at $7,090,355.58. This trade represents a 18.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Relay Therapeutics Price Performance

RLAY stock traded up $0.59 during trading on Wednesday, reaching $18.03. 4,593,884 shares of the stock traded hands, compared to its average volume of 3,258,751. The business’s 50 day moving average price is $14.34 and its 200-day moving average price is $10.97. Relay Therapeutics, Inc. has a 52-week low of $3.03 and a 52-week high of $18.83. The firm has a market capitalization of $3.45 billion, a PE ratio of -11.49 and a beta of 1.75.

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

Institutional Investors Weigh In On Relay Therapeutics

Hedge funds have recently modified their holdings of the stock. Torren Management LLC acquired a new position in Relay Therapeutics during the 4th quarter worth approximately $30,000. KBC Group NV acquired a new stake in Relay Therapeutics in the first quarter valued at approximately $34,000. Smartleaf Asset Management LLC grew its position in Relay Therapeutics by 288.6% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock valued at $37,000 after acquiring an additional 3,287 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Relay Therapeutics during the fourth quarter valued at approximately $46,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Relay Therapeutics during the second quarter valued at approximately $49,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on RLAY. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Wednesday, April 8th. Oppenheimer boosted their price objective on shares of Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 28th. Barclays increased their price objective on shares of Relay Therapeutics from $21.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Wells Fargo & Company raised their target price on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, April 28th. Finally, The Goldman Sachs Group lifted their target price on shares of Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Relay Therapeutics has an average rating of “Buy” and an average price target of $23.30.

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.