Key Points
- Relay Therapeutics CEO Sanjiv Patel sold 48,199 shares at an average price of $18.94, generating $912,889.06 and reducing his ownership by 8.49% to 519,500 shares.
- Shares opened at $18.66, with a market capitalization of approximately $4.09 billion; the stock has traded between $3.87 and $21.27 over the past year.
- The company missed quarterly earnings and revenue estimates, while analysts maintained an overall “Moderate Buy” rating with a consensus price target of $25.92.
Relay Therapeutics, Inc. (NASDAQ:RLAY - Get Free Report) insider Donald Bergstrom sold 8,530 shares of Relay Therapeutics stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $18.97, for a total transaction of $161,814.10. Following the completion of the transaction, the insider directly owned 399,130 shares in the company, valued at approximately $7,571,496.10. This represents a 2.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Relay Therapeutics Price Performance
Shares of RLAY opened at $18.66 on Thursday. The company has a market capitalization of $4.09 billion, a PE ratio of -11.89 and a beta of 1.69. Relay Therapeutics, Inc. has a one year low of $3.87 and a one year high of $21.27. The company's fifty day moving average price is $19.37 and its 200 day moving average price is $15.34.
Relay Therapeutics (NASDAQ:RLAY - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.02). The firm had revenue of $0.35 million during the quarter, compared to the consensus estimate of $0.96 million. Analysts anticipate that Relay Therapeutics, Inc. will post -1.61 earnings per share for the current year.
Wall Street Analysts Forecast Growth
RLAY has been the topic of a number of research analyst reports. Citizens Jmp raised their target price on Relay Therapeutics from $21.00 to $26.00 and gave the company a "market outperform" rating in a report on Monday, August 10th. Zacks Research upgraded shares of Relay Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 20th. UBS Group set a $26.00 target price on shares of Relay Therapeutics in a research report on Tuesday, May 19th. The Goldman Sachs Group upped their target price on shares of Relay Therapeutics from $22.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen downgraded shares of Relay Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Relay Therapeutics has an average rating of "Moderate Buy" and a consensus price target of $25.92.
Check Out Our Latest Report on Relay Therapeutics
Hedge Funds Weigh In On Relay Therapeutics
Several large investors have recently added to or reduced their stakes in RLAY. Alphabet Inc. bought a new position in shares of Relay Therapeutics during the 2nd quarter worth approximately $26,382,000. California State Teachers Retirement System grew its position in Relay Therapeutics by 47.9% in the first quarter. California State Teachers Retirement System now owns 174,099 shares of the company's stock valued at $1,732,000 after acquiring an additional 56,422 shares during the period. Persistent Asset Partners Ltd acquired a new position in Relay Therapeutics during the second quarter worth $1,323,000. Sanctuary Advisors LLC acquired a new position in Relay Therapeutics during the second quarter worth $1,995,000. Finally, Bank of America Corp DE lifted its holdings in shares of Relay Therapeutics by 86.1% during the first quarter. Bank of America Corp DE now owns 1,937,695 shares of the company's stock valued at $19,280,000 after acquiring an additional 896,746 shares during the period. Institutional investors and hedge funds 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.
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