The Vanguard Group, Inc. has recently announced that it has increased stake in Relay Therapeutics Inc. (NASDAQ:RLAY) by 1.08%. After grabbing 10.35 million shares, the institutional investor is now in possession of 0.11 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 8.53% having worth around $117.65 million. Moreover, T. Rowe Price Associates, Inc. increased its share by 2.37 million to have a control over 6.86 million shares. And Casdin Capital LLC raised its holdings to 2.67 million shares by acquiring 5.7 million shares or 4.70% of the stake.
Relay Therapeutics Inc. (RLAY) concluded trading on 05/25/23 at a closing price of $11.22, with 1.5 million shares of worth about $16.86 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -40.03% during that period and on Thursday the price saw a loss of about -3.03%. Currently the company’s common shares owned by public are about 121.32M shares, out of which, 118.14M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 13 analysts are covering the RLAY stock and their offered price forecasts bring an average price target of $28.38. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $46.00 and could fall to a lowest price of $12.50. The stock’s current price level is 60.38% above of average price target set by the analysts, while a rise to estimated low would result in gain of 10.24% for the stock. However, touching the estimated high of $46.00 would mean a gain of 75.61% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 90 times over the past 12 months. They bought 1,071,185 shares in 31 of the transactions. In 59 selling transactions, insiders dumped 683,707 shares.
BB Biotech AG, SPDR S&P Biotech ETF, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Relay Therapeutics Inc. BB Biotech AG is currently holding 4.1 million shares of worth totaling $46.62 million. The company recently came selling 20720.0 shares which brought its stake up to 3.38% of the company’s outstanding shares. SPDR S&P Biotech ETF bought 66880.0 shares, after which its hold over company’s outstanding shares expand to 3.15%, leaving 3.82 million shares with the mutual fund that have a worth of about $43.46 million. Vanguard Total Stock Market ETF, after buying 3.56 million shares, have now control over 2.93% of the stake in the company. It holds 1837.0 shares of worth $40.47 million.
However, the stock later moved at a day high price of 11.59, or with a loss of -3.03%. Stock saw a price change of 10.22% in past 5 days and over the past one month there was a price change of -1.49%. Year-to-date (YTD), RLAY shares are showing a performance of -24.90% which decreased to -32.61% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $9.67 but also hit the highest price of $33.06 during that period. The average intraday trading volume for Relay Therapeutics Inc. shares is 1.62 million. The stock is currently trading 3.56% above its 20-day simple moving average (SMA20), while that difference is down -17.61% for SMA50 and it goes to -38.94% lower than SMA200.
The Vanguard Group, Inc. acquired 10.35 million shares of Relay Therapeutics Inc. having value of about $117.65 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.11 million shares in the company valued at close to $1244421.42, or have control over 1.08% stake in the company. Relay Therapeutics Inc. (NASDAQ: RLAY) currently have 121.32M outstanding shares and institutions hold larger chunk of about 108.59% of that. Holding of mutual funds in the company is about 33.74% while other institutional holders and individual stake holders have control over 47.42% and 12.11% of the stake respectively.
The stock has a current market capitalization of $1.32B. It has posted earnings per share of -$2.80 in the same period. It has Quick Ratio of 13.60 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RLAY, volatility over the week remained 6.06% while standing at 6.15% over the month.
Analysts are in expectations that Relay Therapeutics Inc. (RLAY) stock would likely to be making an EPS of -$0.81 in the current quarter, while forecast for next quarter EPS is -$0.83 and it is -$3.46 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.87 which is -$0.7 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.71 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 32.30% while it is estimated to decrease by -6.10% in next year.
Analysts at 13 brokerage firms have issued recommendations for the Relay Therapeutics Inc. (RLAY)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.80. Out of those 13 Wall Street analysts, 11 recommended a “Buy” rating, while 2 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
