As of Tuesday, Relay Therapeutics Inc.’s (NASDAQ:RLAY) stock closed at $20.55, down from $20.78 the previous day. While Relay Therapeutics Inc. has underperformed by -1.11%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RLAY fell by -7.22%, with highs and lows ranging from $35.36 to $12.65, whereas the simple moving average jumped by 0.37% in the last 200 days.
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On September 30, 2022, Barclays started tracking Relay Therapeutics Inc. (NASDAQ: RLAY) recommending Equal Weight. A report published by Stifel on September 02, 2022, Initiated its previous ‘Buy’ rating for RLAY. Jefferies also rated RLAY shares as ‘Underperform’, setting a target price of $13 on the company’s shares in an initiating report dated June 06, 2022. Berenberg Initiated an Buy rating on February 01, 2022, and assigned a price target of $45. BofA Securities initiated its ‘Buy’ rating for RLAY, as published in its report on July 21, 2021. H.C. Wainwright’s report from December 15, 2020 suggests a price prediction of $57 for RLAY shares, giving the stock a ‘Buy’ rating. JMP Securities also rated the stock as ‘Mkt Outperform’.
Analysis of Relay Therapeutics Inc. (RLAY)
Further, the quarter-over-quarter decrease in sales is -57.10%, showing a negative trend in the upcoming months.
One of the most important indicators of Relay Therapeutics Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -33.00% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 15.20, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and RLAY is recording 1.29M average volume. On a monthly basis, the volatility of the stock is set at 6.65%, whereas on a weekly basis, it is put at 4.63%, with a gain of 0.49% over the past seven days. Furthermore, long-term investors anticipate a median target price of $36.20, showing growth from the present price of $20.55, which can serve as yet another indication of whether RLAY is worth investing in or should be passed over.
How Do You Analyze Relay Therapeutics Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.20%. This can enable you to see the extent to which executives own the company’s stock.
Are institutional investors increasing their holdings in RLAY shares?
The recent increase in stakes in RLAY appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co’s position in RLAY has decreased by -11.24% in the first quarter. The company now owns 10,945,949 shares of the stock, with a value of $163.53 million, following the sale of -1,386,753 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in RLAY during the first quarter, upping its stake by 17.82%. During the last quarter, the company picked up 1,243,156 additional shares for a total stake of worth $122.8 million, bringing number of shares owned by the company to 8,219,612.
During the first quarter, BlackRock Fund Advisors added a 136,120 position in RLAY. Casdin Capital LLC purchased an additional 0.61 million shares in the last quarter, increasing its holdings by 15.11%, now holding 4.68 million shares worth $69.97 million. At the end of the first quarter, T. Rowe Price Associates, Inc. decreased its RLAY holdings by -13.94% and now holds 4.56 million RLAY shares valued at $68.15 million with the lessened -0.74 million shares during the period.
