Relay Therapeutics (NASDAQ:RLAY) Insider Donald Bergstrom Sells 8,530 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Donald Bergstrom sold 8,530 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $18.97, for a total value of $161,814.10. Following the transaction, the insider directly owned 399,130 shares in the company, valued at approximately $7,571,496.10. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Relay Therapeutics Trading Down 2.4%

Shares of RLAY traded down $0.45 during mid-day trading on Wednesday, reaching $18.66. The company’s stock had a trading volume of 5,942,384 shares, compared to its average volume of 3,175,174. Relay Therapeutics, Inc. has a 52 week low of $3.87 and a 52 week high of $21.27. The stock has a market cap of $4.09 billion, a PE ratio of -11.89 and a beta of 1.69. The company’s fifty day moving average price is $19.35 and its two-hundred day moving average price is $15.27.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Thursday, August 6th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.35 million for the quarter, compared to the consensus estimate of $0.96 million. Research analysts anticipate that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RLAY shares. Citigroup restated a “market outperform” rating on shares of Relay Therapeutics in a report on Monday, August 10th. HC Wainwright upped their price target on shares of Relay Therapeutics from $28.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Guggenheim reissued a “buy” rating on shares of Relay Therapeutics in a research report on Friday, August 7th. Citizens Jmp raised their price target on shares of Relay Therapeutics from $21.00 to $26.00 and gave the stock a “market outperform” rating in a report on Monday, August 10th. Finally, JonesTrading upgraded shares of Relay Therapeutics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Two analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $25.92.

Hedge Funds Weigh In On Relay Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of RLAY. BlackRock Inc. bought a new position in shares of Relay Therapeutics during the 2nd quarter valued at approximately $286,042,000. Commodore Capital LP bought a new position in Relay Therapeutics during the second quarter valued at $46,191,000. Casdin Capital LLC increased its position in Relay Therapeutics by 14.7% during the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock valued at $110,010,000 after acquiring an additional 1,662,193 shares during the last quarter. Perceptive Advisors LLC raised its stake in shares of Relay Therapeutics by 412.3% in the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after acquiring an additional 7,847,896 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Relay Therapeutics by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock valued at $81,990,000 after acquiring an additional 295,701 shares during the period. 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.