Donald A. Bergstrom, President of R&D at Relay Therapeutics (RLAY 2.31%), executed multiple open-market sales totaling 21,581 shares for approximately $166,700 on Jan. 27 and Jan. 28, 2026, as disclosed in the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 21,581 |
| Transaction value | ~$166,700 |
| Post-transaction shares (direct) | 420,047 |
| Post-transaction value (direct ownership) | ~$3,213,359.55 |
Transaction value based on SEC Form 4 weighted average purchase price ($7.72); post-transaction value based on Jan. 28, 2026 market close ($7.65).
Key questions
- How does the sale compare to Bergstrom's historical trade sizes?
The 21,581 shares sold in this filing are substantially higher than the recent period's median open-market sale of 2,698 shares, marking this as one of Bergstrom's larger direct dispositions. - What percentage of current direct holdings was impacted?
This transaction represented 4.89% of Bergstrom's direct ownership, which is more than 10 times the recent median percentage of holdings disposed per open-market sale (0.43%). - Was there any participation from indirect entities or derivative transactions?
No indirect entities participated; all shares sold were held directly, and this was not a derivative-related event. - What does the transaction indicate about capacity and cadence?
The elevated sale size reflects Bergstrom's declining available share base, with his direct holdings decreasing by 32.65% since June 2024, likely driving the larger trade size rather than a shift in discretionary selling behavior.
Company overview
| Metric | Value |
|---|---|
| Price (as of market close Jan. 28, 2026) | $7.65 |
| Market capitalization | $1.5 billion |
| Revenue (TTM) | $8.36 million |
| 1-year price change | 65.58% |
* 1-year price change calculated using Jan. 28, 2026 as the reference date.
Company snapshot
- Develops precision medicines with a focus on small molecule therapeutics for targeted oncology and genetic diseases; lead candidates include RLY-4008 (FGFR2 inhibitor), RLY-2608 (PI3Ka inhibitor), and RLY-1971 (SHP2 inhibitor).
- Operates a clinical-stage biotechnology business model, generating revenue primarily through collaboration and license agreements with partners such as Genentech and D.E. Shaw Research, with future revenue anticipated from product commercialization.
- Targets biopharmaceutical companies and healthcare providers focused on advanced cancer therapies and genetic disease treatments.
Relay Therapeutics is a clinical-stage biotechnology company leveraging computational modeling and structure-based drug design to develop precision small molecule therapies. The company differentiates itself through proprietary technology platforms and strategic collaborations, aiming to address unmet needs in oncology and genetic diseases. With a pipeline of innovative candidates and partnerships with industry leaders, Relay Therapeutics is positioned to advance next-generation targeted therapies.
NASDAQ: RLAY
Key Data Points
What this transaction means for investors
Sometimes, insiders sell shares for reasons that have little to do with their conviction in their company and its stock. Bergstrom’s transactions in January are a good reminder of that. The 21,000-share sale, over two transactions, were triggered to cover his income tax withholding obligations after two tranches of restricted stock units (RSUs) were vested the days prior. Per the SEC document, “The reporting person had no discretion with respect to such sale, which was transacted in accordance with the Issuer's policies regarding the vesting of RSUs.”
That said, shares have been on a tear this year, up nearly 70% over Jan. 28, 2025. And the good news keeps coming for the clinical-stage biotech. On Feb. 3, the U.S. Food and Drug Administration (FDA) granted Relay a Breakthrough Therapy designation for zovegalisib in advanced breast cancer treatment. The stock rose 6% to $8.65 on the news. Relay stock has also gotten some love from Wall Street recently, with upgrades from Wells Fargo and Oppenheimer. The analyst consensus is a moderate buy rating with an average price target of $16.57.
