The share price of Relay Therapeutics Inc. (NASDAQ:RLAY) rose to $17.23 per share on Wednesday from $16.89. While Relay Therapeutics Inc. has overperformed by 2.01%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RLAY fell by -50.60%, with highs and lows ranging from $35.05 to $12.65, whereas the simple moving average fell by -11.99% in the last 200 days.
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On February 03, 2023, Oppenheimer started tracking Relay Therapeutics Inc. (NASDAQ: RLAY) recommending Outperform. A report published by Barclays on September 30, 2022, Initiated its previous ‘Equal Weight’ rating for RLAY. Stifel also rated RLAY shares as ‘Buy’, setting a target price of $40 on the company’s shares in an initiating report dated September 02, 2022. Jefferies Initiated an Underperform rating on June 06, 2022, and assigned a price target of $13. Berenberg initiated its ‘Buy’ rating for RLAY, as published in its report on February 01, 2022. BofA Securities’s report from July 21, 2021 suggests a price prediction of $50 for RLAY shares, giving the stock a ‘Buy’ rating. H.C. Wainwright also rated the stock as ‘Buy’.
Analysis of Relay Therapeutics Inc. (RLAY)
Further, the quarter-over-quarter decrease in sales is -50.00%, showing a negative trend in the upcoming months.
To gain a thorough understanding of Relay Therapeutics Inc.’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of -32.50% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 16.00, 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.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and RLAY is recording an average volume of 1.24M. On a monthly basis, the volatility of the stock is set at 5.90%, whereas on a weekly basis, it is put at 5.23%, with a gain of 7.62% over the past seven days. Furthermore, long-term investors anticipate a median target price of $33.73, showing growth from the present price of $17.23, 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?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. 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. The Vanguard Group, Inc.’s position in RLAY has increased by 24.54% in the first quarter. The company now owns 10,236,647 shares of the stock, with a value of $165.32 million, following the purchase of 2,017,035 additional shares during the last quarter. Fidelity Management & Research Co made another decreased to its shares in RLAY during the first quarter, downing its stake by -22.39%. During the last quarter, the company picked up -2,450,349 additional shares for a total stake of worth $137.2 million, bringing number of shares owned by the company to 8,495,600.
During the first quarter, BlackRock Fund Advisors added a 1,066,339 position in RLAY. SSgA Funds Management, Inc. purchased an additional 2.6 million shares in the last quarter, increasing its holdings by 70.78%, now holding 6.26 million shares worth $101.17 million. At the end of the first quarter, T. Rowe Price Associates, Inc. decreased its RLAY holdings by -1.50% and now holds 4.49 million RLAY shares valued at $72.56 million with the lessened 68359.0 shares during the period.
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