Donald Bergstrom Sells 93,456 Shares of Relay Therapeutics (NASDAQ:RLAY) Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Donald Bergstrom sold 93,456 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $16.94, for a total value of $1,583,144.64. Following the transaction, the insider owned 418,557 shares of the company’s stock, valued at approximately $7,090,355.58. The trade was a 18.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Relay Therapeutics Stock Down 1.1%

NASDAQ RLAY opened at $17.83 on Friday. Relay Therapeutics, Inc. has a 12-month low of $3.03 and a 12-month high of $18.94. The firm’s 50 day moving average is $14.46 and its 200-day moving average is $11.11. The company has a market capitalization of $3.42 billion, a PE ratio of -11.36 and a beta of 1.75.

Relay Therapeutics (NASDAQ:RLAY) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The business had revenue of $3.00 million for the quarter, compared to analysts’ expectations of $5.58 million. As a group, sell-side analysts expect that Relay Therapeutics, Inc. will post -1.55 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on RLAY shares. Barclays upped their price objective on Relay Therapeutics from $21.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, May 20th. Raymond James Financial reissued a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. Citigroup reissued an “outperform” rating on shares of Relay Therapeutics in a report on Wednesday, May 20th. Guggenheim lifted their price objective on shares of Relay Therapeutics from $22.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen raised Relay Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Relay Therapeutics currently has a consensus rating of “Buy” and an average target price of $23.30.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC boosted its position in Relay Therapeutics by 11.9% during the first quarter. AQR Capital Management LLC now owns 364,946 shares of the company’s stock valued at $956,000 after acquiring an additional 38,812 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Relay Therapeutics by 6.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,069 shares of the company’s stock valued at $221,000 after acquiring an additional 5,238 shares during the period. Millennium Management LLC increased its stake in Relay Therapeutics by 14.6% during the 1st quarter. Millennium Management LLC now owns 2,942,875 shares of the company’s stock valued at $7,710,000 after purchasing an additional 374,491 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Relay Therapeutics during the first quarter worth about $53,000. Finally, Woodline Partners LP increased its holdings in 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 purchasing an additional 1,241,657 shares in the last quarter. Institutional investors and hedge funds own 96.98% of the company’s stock.

About Relay Therapeutics

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.