Key Points
- Insider sale: Relay Therapeutics insider Donald Bergstrom sold 93,456 shares at an average price of $16.94, totaling about $1.58 million. The sale reduced his holdings by 18.25%.
- Stock and earnings update: Shares opened at $18.03, near their 52-week high of $18.83, while the company recently reported a quarterly loss of $0.41 per share and revenue of $3.0 million, both below expectations.
- Analyst sentiment remains upbeat: Wall Street mostly rates the stock a Buy, with a consensus price target of $23.30, even though one analyst still has a sell rating.
Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) insider Donald Bergstrom sold 93,456 shares of the business's stock in a transaction on Monday, June 22nd. The stock was sold at an average price of $16.94, for a total transaction of $1,583,144.64. Following the sale, the insider directly owned 418,557 shares in the company, valued at approximately $7,090,355.58. The trade was a 18.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Relay Therapeutics Stock Performance
Shares of RLAY opened at $18.03 on Thursday. Relay Therapeutics, Inc. has a 52 week low of $3.03 and a 52 week high of $18.83. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of -11.49 and a beta of 1.75. The stock has a fifty day moving average of $14.40 and a 200-day moving average of $11.04.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The company had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.58 million. As a group, equities analysts forecast that Relay Therapeutics, Inc. will post -1.55 EPS for the current year.
Institutional Investors Weigh In On Relay Therapeutics
Institutional investors have recently made changes to their positions in the stock. Seven Fleet Capital Management LP increased its stake in shares of Relay Therapeutics by 253.1% in the first quarter. Seven Fleet Capital Management LP now owns 257,738 shares of the company's stock valued at $2,564,000 after buying an additional 184,738 shares during the period. Perceptive Advisors LLC raised its position 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 worth $97,024,000 after acquiring an additional 7,847,896 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Relay Therapeutics by 86.1% in the first quarter. Bank of America Corp DE now owns 1,937,695 shares of the company's stock worth $19,280,000 after acquiring an additional 896,746 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Relay Therapeutics by 77.8% in the first quarter. Janus Henderson Group PLC now owns 65,573 shares of the company's stock worth $652,000 after acquiring an additional 28,700 shares during the period. Finally, Amundi acquired a new position in shares of Relay Therapeutics in the first quarter worth approximately $213,000. Institutional investors own 96.98% of the company's stock.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Barclays lifted their price target on Relay Therapeutics from $21.00 to $27.00 and gave the company an "overweight" rating in a research note on Wednesday, May 20th. HC Wainwright raised their price objective on shares of Relay Therapeutics from $25.00 to $28.00 and gave the company a "buy" rating in a report on Tuesday, May 26th. UBS Group set a $26.00 target price on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Raymond James Financial reissued a "strong-buy" rating on shares of Relay Therapeutics in a report on Tuesday, May 19th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Relay Therapeutics in a research report on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, Relay Therapeutics currently has an average rating of "Buy" and a consensus price target of $23.30.
Get Our Latest Research Report on Relay Therapeutics
About Relay Therapeutics
(
Get Free Report)
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
