Relay Therapeutics (NASDAQ:RLAY) Insider Sells 93,456 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Donald Bergstrom sold 93,456 shares of the company’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $16.94, for a total value of $1,583,144.64. Following the completion of the sale, the insider directly owned 418,557 shares in the company, valued at approximately $7,090,355.58. The trade was a 18.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Relay Therapeutics Price Performance

NASDAQ:RLAY traded up $0.59 during trading hours on Wednesday, reaching $18.03. 4,593,884 shares of the company traded hands, compared to its average volume of 3,258,751. The firm’s 50-day moving average is $14.34 and its 200-day moving average is $10.97. The stock has a market cap of $3.45 billion, a P/E ratio of -11.49 and a beta of 1.75. Relay Therapeutics, Inc. has a 1-year low of $3.03 and a 1-year high of $18.83.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly 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 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Oppenheimer boosted their target price on shares of Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Citigroup reiterated an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday, May 20th. Barclays boosted their price objective on shares of Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Wednesday, April 8th. Finally, HC Wainwright raised their target price on shares of Relay Therapeutics from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $23.30.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Seven Fleet Capital Management LP grew its holdings in Relay Therapeutics by 253.1% in the first quarter. Seven Fleet Capital Management LP now owns 257,738 shares of the company’s stock valued at $2,564,000 after purchasing an additional 184,738 shares during the period. Perceptive Advisors LLC raised its stake in Relay Therapeutics by 412.3% during the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock worth $97,024,000 after purchasing an additional 7,847,896 shares during the period. Bank of America Corp DE raised its stake in Relay Therapeutics by 86.1% during the first quarter. Bank of America Corp DE now owns 1,937,695 shares of the company’s stock worth $19,280,000 after purchasing an additional 896,746 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Relay Therapeutics by 77.8% in the 1st quarter. Janus Henderson Group PLC now owns 65,573 shares of the company’s stock valued at $652,000 after purchasing an additional 28,700 shares during the last quarter. Finally, Amundi acquired a new position in shares of Relay Therapeutics in the 1st quarter valued at $213,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

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.