Relay Therapeutics (NASDAQ:RLAY) Insider Sells 2,252 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Donald Bergstrom sold 2,252 shares of the company’s stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $18.62, for a total value of $41,932.24. Following the transaction, the insider directly owned 396,878 shares of the company’s stock, valued at approximately $7,389,868.36. This trade represents a 0.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Relay Therapeutics Price Performance

RLAY stock traded down $1.12 during midday trading on Friday, hitting $18.35. The company’s stock had a trading volume of 3,595,892 shares, compared to its average volume of 3,131,055. The stock has a market capitalization of $4.02 billion, a P/E ratio of -11.69 and a beta of 1.72. Relay Therapeutics, Inc. has a twelve month low of $5.95 and a twelve month high of $21.27. The company’s fifty day moving average price is $18.54 and its 200 day moving average price is $14.90.

Relay Therapeutics (NASDAQ:RLAY) last released its earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share 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 analyst estimates of $0.96 million. Equities analysts expect that Relay Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen downgraded Relay Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. HC Wainwright raised their target price on Relay Therapeutics from $28.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, August 20th. JPMorgan Chase & Co. lifted their price target on shares of Relay Therapeutics from $28.00 to $31.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, October 2nd. Finally, Citizens Jmp boosted their target price 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. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Relay Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $25.92.

Hedge Funds Weigh In On Relay Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Relay Therapeutics during the 2nd quarter worth approximately $286,042,000. Perceptive Advisors LLC increased its stake in shares of Relay Therapeutics by 412.3% in the 1st 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 in the last quarter. Spruce Street Capital LP bought a new stake in shares of Relay Therapeutics in the 2nd quarter valued at $55,832,979. Dimensional Fund Advisors LP lifted its position in shares of Relay Therapeutics by 18.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,940,536 shares of the company’s stock valued at $29,248,000 after acquiring an additional 460,186 shares during the period. Finally, Bank of America Corp DE acquired a new position in shares of Relay Therapeutics during the 2nd quarter valued at $50,425,000. 96.98% of the stock is owned by institutional investors and hedge funds.

About Relay Therapeutics

Relay Therapeutics, Inc is a biotechnology company focused on discovering and developing medicines for cancer and other serious diseases. The company uses its Dynamo platform, which combines structural biology, computational modeling, machine learning and experimental science to study how proteins move and interact. Relay aims to use this approach to identify precisely targeted therapies, including medicines designed to bind to previously difficult-to-drug sites.

The company’s pipeline has primarily focused on oncology, including investigational small-molecule therapies directed at cancer-driving proteins and signaling pathways.