Donald A. Bergstrom Sells 4,069 Shares of Relay Therapeutics, Inc. (NASDAQ:RLAY) 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 Relay Therapeutics stock in a transaction dated Monday, July 28th. The stock was 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 of the company's stock, valued at approximately $2,167,034.54. This represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Relay Therapeutics Stock Down 4.5%

Shares of NASDAQ RLAY traded down $0.16 during midday trading on Friday, hitting $3.36. The stock had a trading volume of 2,789,533 shares, compared to its average volume of 2,326,051. The company has a market capitalization of $576.06 million, a price-to-earnings ratio of -1.51 and a beta of 1.62. Relay Therapeutics, Inc. has a 1-year low of $1.77 and a 1-year high of $10.72. The company has a fifty day moving average price of $3.41 and a 200 day moving average price of $3.40.

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

Analysts Set New Price Targets

A number of analysts recently commented on RLAY shares. 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 objective for the company. Guggenheim decreased their price target on 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 research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.67.

Hedge Funds Weigh In On Relay Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the company. Murchinson Ltd. acquired a new position in shares of Relay Therapeutics in the 1st quarter valued at about $26,000. DRW Securities LLC purchased a new stake in shares of Relay Therapeutics during the 1st quarter valued at about $28,000. AssuredPartners Investment Advisors LLC purchased a new stake in shares of Relay Therapeutics during the 1st quarter valued at about $29,000. FNY Investment Advisers LLC raised its holdings in shares of 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 buying an additional 5,000 shares during the period. Finally, May Hill Capital LLC purchased a new stake in shares of Relay Therapeutics during the 2nd quarter valued at about $38,000. 96.98% of the stock is owned by institutional investors and hedge funds.

About Relay Therapeutics

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.