Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) insider Donald Bergstrom sold 8,660 shares of the business's stock in a transaction on Monday, July 6th. The shares were sold at an average price of $18.71, for a total transaction of $162,028.60. Following the transaction, the insider directly owned 409,897 shares in the company, valued at approximately $7,669,172.87. The trade was a 2.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.
Relay Therapeutics Trading Down 0.6%
Shares of NASDAQ RLAY opened at $19.63 on Thursday. The firm has a fifty day simple moving average of $15.00 and a two-hundred day simple moving average of $11.81. Relay Therapeutics, Inc. has a 12 month low of $3.03 and a 12 month high of $20.20. The firm has a market capitalization of $3.76 billion, a PE ratio of -12.50 and a beta of 1.67.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last announced its earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.06). The firm had revenue of $3.00 million for the quarter, compared to analysts' expectations of $5.58 million. On average, sell-side analysts predict that Relay Therapeutics, Inc. will post -1.55 earnings per share for the current year.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. Citizens Jmp increased their target price on Relay Therapeutics from $19.00 to $21.00 and gave the stock a "market outperform" rating in a research report on Wednesday, May 20th. Citigroup restated an "outperform" rating on shares of Relay Therapeutics in a research report on Wednesday, May 20th. HC Wainwright upped their price target on Relay Therapeutics from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Tuesday, May 26th. The Goldman Sachs Group increased their price objective on Relay Therapeutics from $13.00 to $22.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Finally, Oppenheimer raised their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $23.73.
View Our Latest Research Report on Relay Therapeutics
Institutional Investors Weigh In On Relay Therapeutics
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Commodore Capital LP bought a new position in shares of Relay Therapeutics during the second quarter valued at approximately $46,191,000. Perceptive Advisors LLC boosted its position in shares of Relay Therapeutics by 412.3% in the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company's stock worth $97,024,000 after purchasing an additional 7,847,896 shares in the last quarter. Spruce Street Capital LP bought a new stake in shares of Relay Therapeutics in the 4th quarter worth approximately $25,246,000. EcoR1 Capital LLC purchased a new stake in shares of Relay Therapeutics in the 1st quarter worth approximately $18,952,000. Finally, TCG Crossover Management LLC purchased a new stake in shares of Relay Therapeutics in the 3rd quarter worth approximately $9,450,000. Hedge funds and other institutional investors own 96.98% of the company's stock.
Relay Therapeutics Company Profile
(
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 Stories
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].
