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 Relay Therapeutics stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.61, for a total transaction of $41,630.57. Following the sale, the insider directly owned 407,660 shares in the company, valued at $7,586,552.60. The trade was a 0.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Relay Therapeutics Stock Performance

Shares of NASDAQ RLAY traded up $1.08 during midday trading on Thursday, hitting $19.45. 1,865,442 shares of the company traded hands, compared to its average volume of 3,307,066. Relay Therapeutics, Inc. has a 12-month low of $3.03 and a 12-month high of $20.79. The stock has a 50-day moving average price of $16.94 and a 200 day moving average price of $12.95. The firm has a market cap of $3.73 billion, a P/E ratio of -12.39 and a beta of 1.67.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $5.58 million. As a group, equities analysts expect that Relay Therapeutics, Inc. will post -1.57 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently commented on RLAY shares. Citizens Jmp raised their target price on Relay Therapeutics from $19.00 to $21.00 and gave the company a “market outperform” rating in a research note on Wednesday, May 20th. Barclays upped their price target on Relay Therapeutics from $21.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. JonesTrading raised Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Zacks Research cut shares of Relay Therapeutics from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.92.

Institutional Investors Weigh In On Relay Therapeutics

Institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its holdings in shares of Relay Therapeutics by 11.9% during the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock valued at $956,000 after acquiring an additional 38,812 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Relay Therapeutics by 6.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock worth $221,000 after purchasing an additional 5,238 shares in the last quarter. Millennium Management LLC boosted its stake in Relay Therapeutics by 14.6% in the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock worth $7,710,000 after purchasing an additional 374,491 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Relay Therapeutics during the 1st quarter valued at about $53,000. Finally, Woodline Partners LP grew its position in Relay Therapeutics by 448.4% during the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock valued at $3,979,000 after purchasing an additional 1,241,657 shares during the last quarter. 96.98% of the stock is 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.