Relay Therapeutics (NASDAQ:RLAY) Insider Donald Bergstrom Sells 30,897 Shares

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Donald Bergstrom sold 30,897 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $7.29, for a total value of $225,239.13. Following the completion of the sale, the insider directly owned 521,823 shares in the company, valued at $3,804,089.67. This trade represents a 5.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Relay Therapeutics Stock Up 0.4%

Shares of NASDAQ:RLAY opened at $7.34 on Friday. Relay Therapeutics, Inc. has a 52-week low of $1.77 and a 52-week high of $7.64. The stock’s fifty day simple moving average is $5.18 and its 200-day simple moving average is $3.94. The company has a market capitalization of $1.27 billion, a P/E ratio of -3.76 and a beta of 1.75.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.08. The company had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $0.07 million. On average, sell-side analysts anticipate that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Hedge Funds Weigh In On Relay Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of RLAY. Wealth Enhancement Advisory Services LLC purchased a new position in Relay Therapeutics during the first quarter worth approximately $41,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Relay Therapeutics by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 63,606 shares of the company’s stock worth $157,000 after buying an additional 22,307 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Relay Therapeutics by 14.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 68,937 shares of the company’s stock worth $181,000 after buying an additional 8,937 shares during the period. CWM LLC boosted its holdings in Relay Therapeutics by 368.6% in the first quarter. CWM LLC now owns 20,269 shares of the company’s stock valued at $53,000 after acquiring an additional 15,944 shares during the last quarter. Finally, Private Capital Advisors Inc. purchased a new stake in Relay Therapeutics during the first quarter valued at about $262,000. Institutional investors and hedge funds own 96.98% of the company’s stock.

Analyst Upgrades and Downgrades

RLAY has been the topic of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Tuesday, October 14th. HC Wainwright decreased their target price on shares of Relay Therapeutics from $16.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, August 26th. Guggenheim started coverage on shares of Relay Therapeutics in a research report on Thursday, September 4th. They set a “buy” rating and a $15.00 target price on the stock. Finally, Raymond James Financial decreased their target price on shares of Relay Therapeutics from $29.00 to $19.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.50.

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.