Broadcom named strategic vendor for Walmart virtualization solutions
CAMBRIDGE, MA—Donald A. Bergstrom, President of Research and Development at Relay Therapeutics, Inc. (NASDAQ:RLAY), recently sold 31,562 shares of the company’s common stock, amounting to $95,381. The transactions, which took place on April 28 and April 30, were conducted at prices ranging from $3.00 to $3.17 per share. The stock, currently trading at $3.32, has shown significant volatility, with analyst price targets ranging from $4 to $30.
According to the SEC filing, these sales were made to cover Bergstrom’s income tax obligations related to the vesting of restricted stock units (RSUs). Following these transactions, Bergstrom retains ownership of 583,490 shares, which includes 306,110 shares underlying RSUs. InvestingPro analysis reveals the company is currently trading below its Fair Value, with eight additional key insights available to subscribers, including crucial metrics about the company’s cash position and profitability outlook. The company’s next earnings report is scheduled for May 5, 2025.
In other recent news, Citizens JMP adjusted its price target for Relay Therapeutics, reducing it from $21.00 to $12.00 while maintaining a Market Outperform rating. This adjustment comes after a change in dosage from phase 2 to phase 3 trials of Relay’s drug candidate. The firm remains optimistic, supported by additional pharmacokinetic and pharmacodynamic data that suggest the dose reduction may enhance patient tolerability. Relay Therapeutics is focusing on replacing the existing treatment combination for metastatic breast cancer patients in the second-line treatment post-CDK4/6 inhibition. The ReDiscover phase 2 trial demonstrated notable improvements in progression-free survival, with RLY-2608 showing a 9.2-month PFS across all patients and 11.4 months in those with kinase domain mutations. Analysts highlighted the trial results as indicative of best-in-class efficacy and potential safety advantages in the 2L post-CDK4/6 mBC setting. Relay Therapeutics’ continued work on RLY-2608 is being monitored as it aims to set a new benchmark in cancer treatment.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.