Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Sells $15,218.06 in Stock

Key Points

• Insider Donald A. Bergstrom sold 4,069 shares of Relay Therapeutics at an average price of $3.74, resulting in a total sale of about $15,218.
• Despite the sale, Bergstrom retains ownership of 579,421 shares, valued at approximately $2.17 million, reflecting a 0.70% decrease in ownership after the transaction.
• Relay Therapeutics recently reported a quarterly loss of ($0.46) earnings per share, slightly beating analyst expectations, while its revenue for the quarter was $7.68 million, down 23% year-over-year.

Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) insider Donald A. Bergstrom sold 4,069 shares of the company's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $3.74, for a total value of $15,218.06. Following the sale, the insider owned 579,421 shares in the company, valued at $2,167,034.54. The trade was a 0.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Relay Therapeutics Price Performance

RLAY stock traded down $0.16 on Friday, reaching $3.36. The company's stock had a trading volume of 2,789,533 shares, compared to its average volume of 2,643,379. Relay Therapeutics, Inc. has a 52 week low of $1.77 and a 52 week high of $10.72. The company has a market capitalization of $576.07 million, a P/E ratio of -1.51 and a beta of 1.62. The firm has a fifty day moving average of $3.42 and a two-hundred day moving average of $3.39.

Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.50) by $0.04. The business had revenue of $7.68 million during the quarter, compared to the consensus estimate of $0.01 million. During the same period last year, the company earned ($0.62) earnings per share. The business's quarterly revenue was down 23.0% compared to the same quarter last year. As a group, equities analysts expect that Relay Therapeutics, Inc. will post -2.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on RLAY shares. Guggenheim dropped their price target on Relay Therapeutics from $30.00 to $10.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wells Fargo & Company started coverage on Relay Therapeutics in a research report on Thursday, April 17th. They set an "equal weight" rating and a $4.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.67.

Hedge Funds Weigh In On Relay Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. May Hill Capital LLC bought a new position in Relay Therapeutics during the 2nd quarter valued at $38,000. Focus Partners Advisor Solutions LLC bought a new position in Relay Therapeutics during the 2nd quarter valued at $39,000. FNY Investment Advisers LLC boosted its stake in Relay Therapeutics by 100.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company's stock valued at $34,000 after purchasing an additional 5,000 shares in the last quarter. Private Capital Advisors Inc. boosted its stake in Relay Therapeutics by 341.7% during the 2nd quarter. Private Capital Advisors Inc. now owns 441,739 shares of the company's stock valued at $1,528,000 after purchasing an additional 341,739 shares in the last quarter. Finally, CWM LLC boosted its stake in Relay Therapeutics by 181.2% during the 2nd quarter. CWM LLC now owns 56,993 shares of the company's stock valued at $197,000 after purchasing an additional 36,724 shares in the last quarter. 96.98% of the stock is owned by institutional investors.

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.