Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Sells $98,259.68 in Stock

Key Points

• Insider Donald A. Bergstrom sold 26,701 shares of Relay Therapeutics stock at an average price of $3.68, decreasing his position by 4.61%.
• Relay Therapeutics reported a quarterly EPS of ($0.46), outperforming estimates, but its revenue fell by 23% year-over-year.
• The stock currently has a market cap of $622.36 million and a consensus rating of "Moderate Buy" with an average target price of $17.67.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) insider Donald A. Bergstrom sold 26,701 shares of the stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total transaction of $98,259.68. Following the transaction, the insider owned 552,720 shares in the company, valued at approximately $2,034,009.60. This trade represents a 4.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Relay Therapeutics Price Performance

Shares of NASDAQ RLAY traded down $0.16 during trading hours on Friday, hitting $3.36. 2,789,533 shares of the stock were exchanged, compared to its average volume of 2,643,379. The firm has a market capitalization of $576.07 million, a P/E ratio of -1.51 and a beta of 1.62. The company's 50 day moving average is $3.42 and its 200 day moving average is $3.39. Relay Therapeutics, Inc. has a one year low of $1.77 and a one year high of $10.72.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.46) EPS for the quarter, beating analysts' consensus estimates of ($0.50) by $0.04. The company had revenue of $7.68 million for the quarter, compared to analyst estimates of $0.01 million. The firm's quarterly revenue was down 23.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.62) EPS. Research analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

RLAY has been the topic of several analyst reports. Wells Fargo & Company initiated coverage on shares of Relay Therapeutics in a research note on Thursday, April 17th. They set an "equal weight" rating and a $4.00 price target on the stock. Guggenheim dropped their price target on shares of Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Relay Therapeutics presently has an average rating of "Moderate Buy" and a consensus target price of $17.67.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RLAY. Norges Bank acquired a new position in shares of Relay Therapeutics during the fourth quarter valued at about $23,821,000. Tang Capital Management LLC raised its position in shares of Relay Therapeutics by 126.1% during the fourth quarter. Tang Capital Management LLC now owns 8,068,058 shares of the company's stock valued at $33,240,000 after buying an additional 4,500,000 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Relay Therapeutics by 142.4% during the 4th quarter. Millennium Management LLC now owns 2,568,384 shares of the company's stock worth $10,582,000 after acquiring an additional 1,508,777 shares during the period. Woodline Partners LP lifted its holdings in shares of Relay Therapeutics by 448.4% during the 1st quarter. Woodline Partners LP now owns 1,518,561 shares of the company's stock worth $3,979,000 after acquiring an additional 1,241,657 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Relay Therapeutics by 69.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,964,997 shares of the company's stock worth $12,216,000 after acquiring an additional 1,216,334 shares during the period. Institutional investors and hedge funds own 96.98% of the company's stock.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc operates as a clinical-stage precision medicines company. It engages in transforming the drug discovery process with an initial focus on enhancing small molecule therapeutic discovery in targeted oncology and genetic disease indications. The company's lead product candidates include RLY-4008, an oral small molecule inhibitor of fibroblast growth factor receptor 2 (FGFR2), which is in a first-in-human clinical trial for patients with advanced or metastatic FGFR2-altered solid tumors; RLY-2608, a lead mutant-PI3Ka inhibitor program that targets phosphoinostide 3 kinase alpha; and Migoprotafib (GDC-1971), an oral, small molecule, potent and selective inhibitor of the protein tyrosine phosphatase SHP2 that binds and stabilizes Src homology region 2 domain-containing phosphatase-2 (SHP2) as a monotherapy in patients with advanced or metastatic solid tumors.