Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Sells 26,701 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAY) insider Donald A. Bergstrom sold 26,701 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $3.68, for a total transaction of $98,259.68. Following the completion of the sale, the insider directly owned 552,720 shares in the company, valued at $2,034,009.60. This trade represents a 4.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Relay Therapeutics Price Performance

RLAY opened at $3.36 on Friday. The company has a fifty day moving average price of $3.42 and a 200-day moving average price of $3.39. The firm has a market capitalization of $576.07 million, a P/E ratio of -1.51 and a beta of 1.62. Relay Therapeutics, Inc. has a one year low of $1.77 and a one year high of $10.72.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.46) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.04. The firm had revenue of $7.68 million for the quarter, compared to analysts’ expectations of $0.01 million. The firm’s revenue for the quarter was down 23.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.62) earnings per share. On average, analysts expect that Relay Therapeutics, Inc. will post -2.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RLAY shares. Guggenheim lowered their price target on shares of Relay Therapeutics from $30.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Wells Fargo & Company initiated coverage on shares of Relay Therapeutics in a research note on Thursday, April 17th. They issued an “equal weight” rating and a $4.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Relay Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $17.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Murchinson Ltd. purchased a new position in Relay Therapeutics in the first quarter worth $26,000. DRW Securities LLC bought a new stake in Relay Therapeutics in the first quarter worth $28,000. AssuredPartners Investment Advisors LLC bought a new stake in Relay Therapeutics in the first quarter worth $29,000. FNY Investment Advisers LLC lifted its stake in Relay Therapeutics by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 10,000 shares of the company’s stock worth $34,000 after purchasing an additional 5,000 shares during the last quarter. Finally, May Hill Capital LLC bought a new stake in Relay Therapeutics in the second quarter worth $38,000. 96.98% of the stock is currently owned by hedge funds and other institutional investors.

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.