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 business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $18.97, for a total transaction of $161,814.10. Following the sale, the insider owned 399,130 shares in the company, valued at $7,571,496.10. This represents a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Relay Therapeutics Stock Performance

Relay Therapeutics stock opened at $18.66 on Thursday. Relay Therapeutics, Inc. has a 52 week low of $3.87 and a 52 week high of $21.27. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of -11.89 and a beta of 1.69. The company has a 50 day moving average price of $19.37 and a 200 day moving average price of $15.34.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. HC Wainwright lifted their target price on Relay Therapeutics from $28.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Citigroup reiterated a “market outperform” rating on shares of Relay Therapeutics in a research report on Monday, August 10th. Barclays lifted their target price on shares of Relay Therapeutics from $27.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, The Goldman Sachs Group upped their price target on shares of Relay Therapeutics from $22.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $25.92.

Hedge Funds Weigh In On Relay Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its stake in Relay Therapeutics by 11.9% in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Relay Therapeutics by 6.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock valued at $221,000 after purchasing an additional 5,238 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Relay Therapeutics by 14.6% during the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock valued at $7,710,000 after purchasing an additional 374,491 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Relay Therapeutics in the 1st quarter valued at $53,000. Finally, Woodline Partners LP boosted its holdings in Relay Therapeutics by 448.4% in the first quarter. Woodline Partners LP now owns 1,518,561 shares of the company’s stock worth $3,979,000 after purchasing an additional 1,241,657 shares in the last quarter. 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.