Insider Selling: Relay Therapeutics (NASDAQ:RLAY) Insider Sells $22,037.10 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Donald Bergstrom sold 1,490 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, April 28th. The shares were sold at an average price of $14.79, for a total transaction of $22,037.10. Following the completion of the sale, the insider owned 418,557 shares of the company’s stock, valued at approximately $6,190,458.03. The trade was a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Relay Therapeutics Price Performance

Shares of RLAY opened at $12.72 on Friday. Relay Therapeutics, Inc. has a one year low of $2.67 and a one year high of $17.32. The company has a market cap of $2.43 billion, a P/E ratio of -7.85 and a beta of 1.74. The firm has a 50 day simple moving average of $11.87 and a two-hundred day simple moving average of $9.15.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.06. The firm had revenue of $7.00 million for the quarter, compared to analyst estimates of $4.34 million. On average, analysts expect that Relay Therapeutics, Inc. will post -1.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RLAY has been the subject of several research analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Wednesday, April 8th. Barclays boosted their price objective on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, April 8th. Citigroup restated an “outperform” rating on shares of Relay Therapeutics in a research report on Tuesday. Guggenheim boosted their price objective on shares of Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Finally, Oppenheimer boosted their price objective on shares of Relay Therapeutics from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Relay Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $20.56.

Institutional Trading of Relay Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of RLAY. Torren Management LLC bought a new stake in shares of Relay Therapeutics during the fourth quarter worth $30,000. Smartleaf Asset Management LLC grew its stake in shares of Relay Therapeutics by 288.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after buying an additional 3,287 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Relay Therapeutics during the fourth quarter worth $46,000. Captrust Financial Advisors bought a new stake in shares of Relay Therapeutics during the second quarter worth $49,000. Finally, Cerity Partners LLC bought a new stake in shares of Relay Therapeutics during the second quarter worth $51,000. 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.