Insider Selling: Relay Therapeutics (NASDAQ:RLAY) Insider Sells $41,932.24 in Stock

Key Points

• Relay Therapeutics insider Donald Bergstrom sold 2,252 shares at an average price of $18.62, generating $41,932.24. The sale covered tax withholding obligations, reducing his position by 0.56% to 396,878 shares.
• RLAY shares recently traded at $18.35, with a $4.02 billion market capitalization and a 12-month range of $5.95 to $21.27. The company reported a quarterly loss of $0.41 per share, missing estimates, while revenue of $0.35 million also fell short of expectations.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $25.92. Institutional investors own approximately 96.98% of the company’s shares.

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

Relay Therapeutics Stock Performance

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

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings data 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 analysts' expectations of $0.96 million. On average, equities research analysts expect that Relay Therapeutics, Inc. will post -1.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Relay Therapeutics

A number of institutional investors have recently added to or reduced their stakes in RLAY. Mirae Asset Global Investments Co. Ltd. bought a new position in Relay Therapeutics in the 3rd quarter valued at $202,000. ProShare Advisors LLC lifted its stake in shares of Relay Therapeutics by 8.0% in the 3rd quarter. ProShare Advisors LLC now owns 30,462 shares of the company's stock valued at $550,000 after purchasing an additional 2,265 shares during the period. China Universal Asset Management Co. Ltd. grew its position in shares of Relay Therapeutics by 17.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 39,985 shares of the company's stock worth $734,000 after buying an additional 5,847 shares during the period. Lighthouse Financial LLC acquired a new stake in Relay Therapeutics in the third quarter worth $389,000. Finally, Sterling Capital Management LLC grew its stake in Relay Therapeutics by 381.6% in the third quarter. Sterling Capital Management LLC now owns 5,485 shares of the company's stock valued at $99,000 after acquiring an additional 4,346 shares during the period. 96.98% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citizens Jmp boosted their target price on Relay Therapeutics from $21.00 to $26.00 and gave the stock a "market outperform" rating in a report on Monday, August 10th. HC Wainwright lifted their target price on shares of Relay Therapeutics from $28.00 to $29.00 and gave the stock a "buy" rating in a report on Thursday, August 20th. The Goldman Sachs Group upped their price target on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Citigroup reissued a "market outperform" rating on shares of Relay Therapeutics in a research report on Monday, August 10th. Finally, Canaccord Genuity Group started coverage on Relay Therapeutics in a report on Thursday, July 16th. They issued a "buy" rating and a $29.00 target price on the stock. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $25.92.

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.

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