Insider Selling: Relay Therapeutics, Inc. (NASDAQ:RLAY) Insider Sells 1,811 Shares of Stock

Relay Therapeutics, Inc. (NASDAQ:RLAYGet Rating) insider Donald A. Bergstrom sold 1,811 shares of the firm’s stock in a transaction on Thursday, April 28th. The shares were sold at an average price of $25.57, for a total value of $46,307.27. Following the completion of the transaction, the insider now owns 92,493 shares of the company’s stock, valued at approximately $2,365,046.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

RLAY opened at $24.74 on Tuesday. The firm has a market cap of $2.68 billion, a P/E ratio of -6.43 and a beta of 1.66. Relay Therapeutics, Inc. has a 52 week low of $19.05 and a 52 week high of $38.60. The business’s fifty day simple moving average is $27.20 and its 200 day simple moving average is $28.04.

Relay Therapeutics (NASDAQ:RLAYGet Rating) last posted its quarterly earnings data on Thursday, February 24th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.96. Relay Therapeutics had a negative return on equity of 36.49% and a negative net margin of 12,012.94%. The business had revenue of $0.57 million for the quarter. On average, research analysts forecast that Relay Therapeutics, Inc. will post -2.46 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of RLAY. Royal Bank of Canada boosted its stake in Relay Therapeutics by 10.3% in the 2nd quarter. Royal Bank of Canada now owns 4,153 shares of the company’s stock worth $152,000 after buying an additional 388 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Relay Therapeutics by 211.6% in the 2nd quarter. Wells Fargo & Company MN now owns 30,599 shares of the company’s stock worth $1,120,000 after buying an additional 20,779 shares during the last quarter. Morgan Stanley boosted its stake in Relay Therapeutics by 16.1% in the 2nd quarter. Morgan Stanley now owns 569,645 shares of the company’s stock worth $20,843,000 after buying an additional 79,037 shares during the last quarter. Dupont Capital Management Corp acquired a new stake in Relay Therapeutics in the 3rd quarter worth about $230,000. Finally, Deutsche Bank AG boosted its stake in Relay Therapeutics by 10.1% in the 3rd quarter. Deutsche Bank AG now owns 42,801 shares of the company’s stock worth $1,349,000 after buying an additional 3,912 shares during the last quarter.

A number of research analysts have recently weighed in on RLAY shares. Berenberg Bank started coverage on Relay Therapeutics in a research report on Tuesday, February 1st. They issued a “buy” rating and a $45.00 price target for the company. Zacks Investment Research upgraded Relay Therapeutics from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Thursday, April 28th. Finally, Guggenheim dropped their price target on Relay Therapeutics from $52.00 to $45.00 in a research report on Monday, January 3rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $46.57.

About Relay Therapeutics (Get Rating)

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 RLY-1971, an oral small molecule inhibitor of protein tyrosine phosphatase Src homology region 2 domain-containing phosphatase-2 that is in Phase 1 trial in patients with advanced solid tumors.

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