Insider Selling: Relay Therapeutics (NASDAQ:RLAY) Insider Sells $161,814.10 in Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Donald Bergstrom sold 8,530 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $18.97, for a total value of $161,814.10. Following the completion of the transaction, the insider owned 399,130 shares of the company’s stock, valued at $7,571,496.10. The trade was a 2.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Relay Therapeutics Stock Performance

Relay Therapeutics stock opened at $18.87 on Friday. The company has a market cap of $4.14 billion, a P/E ratio of -12.02 and a beta of 1.69. Relay Therapeutics, Inc. has a one year low of $3.88 and a one year high of $21.27. The business has a fifty day moving average of $19.38 and a two-hundred day moving average of $15.43.

Relay Therapeutics (NASDAQ:RLAY) last posted its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The firm had revenue of $0.35 million for the quarter, compared to analyst estimates of $0.96 million. Sell-side analysts predict that Relay Therapeutics, Inc. will post -1.61 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in Relay Therapeutics in the 2nd quarter valued at approximately $286,042,000. Commodore Capital LP purchased a new stake in shares of Relay Therapeutics in the second quarter valued at $46,191,000. Casdin Capital LLC lifted its position in shares of Relay Therapeutics by 14.7% in the fourth quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock valued at $110,010,000 after acquiring an additional 1,662,193 shares in the last quarter. Perceptive Advisors LLC boosted its stake in shares of Relay Therapeutics by 412.3% during the first quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after acquiring an additional 7,847,896 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Relay Therapeutics by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock valued at $81,990,000 after purchasing an additional 295,701 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RLAY. The Goldman Sachs Group increased their target price 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. Canaccord Genuity Group began coverage on Relay Therapeutics in a report on Thursday, July 16th. They issued a “buy” rating and a $29.00 price target on the stock. Guggenheim reaffirmed a “buy” rating on shares of Relay Therapeutics in a report on Friday, August 7th. Citigroup reiterated a “market outperform” rating on shares of Relay Therapeutics in a research report on Monday, August 10th. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.92.

About Relay Therapeutics

Relay Therapeutics, Inc is a clinical-stage biotechnology company that develops medicines for patients with genetically defined diseases, including cancer. The company combines computational and experimental approaches to study how proteins move and change shape, with the goal of identifying druggable sites and designing more selective therapies.

Relay’s research platform, known as Dynamo, integrates structural biology, computational modeling, biophysics and chemistry to support the discovery and development of small-molecule drug candidates.