Saturday, June 25, 2022

A company insider recently sold 13,000 shares of Relay Therapeutics Inc. [RLAY]. Should You Sale?

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Relay Therapeutics Inc. shares valued at $320,060 were sold by Bergstrom Donald A on May 02. At $24.62 per share, Bergstrom Donald A sold 13,000 shares. The insider’s holdings dropped to 92,493 shares worth approximately $1.64 million following the completion of this transaction.

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Also, Bergstrom Donald A sold 1,811 shares, netting a total of over 46,307 in proceeds. Following the sale of shares at $25.57 each, the insider now holds 92,493 shares.

Before that, Porter Andy had sold 435 shares from its account. In a trade valued at $11,123, the Chief Administrative Officer traded Relay Therapeutics Inc. shares for $25.57 each. Upon closing the transaction, the insider’s holdings decreased to 435 shares, worth approximately $0.83 million.

As published in their initiating research note from Jefferies on June 06, 2022, Relay Therapeutics Inc. [RLAY] has been an Underperform and the price target has been revised to $13. This represents a -36.77% premium over Wednesday’s closing price. Analysts at Berenberg started covering the stock with ‘”a Buy”‘ outlook in a report released in early February. As of July 21, 2021, BofA Securities has initiated its “Buy” rating for RLAY. Earlier on December 15, 2020, H.C. Wainwright resumed its rating. Their recommendation was “a Buy” for RLAY stock.

Analyzing RLAY’s Price Performance

On Wednesday, Relay Therapeutics Inc. [NASDAQ: RLAY] rose 2.89% to $17.78. The stock’s lowest price that day was $16.82, but it reached a high of $18.31 in the same session. During the last five days, there has been a surge of approximately 28.19%. Over the course of the year, Relay Therapeutics Inc. shares have dropped approximately -42.10%. Shares of the company reached a 52-week high of $35.36 on 04/04/22 and a 52-week low of $12.65 on 06/14/22. A 50-day SMA is recorded $20.54, while a 200-day SMA reached $26.92. Nevertheless, trading volume fell to 1.26 million shares from 1.46 million shares the previous day.

Support And Resistance Levels for Relay Therapeutics Inc. (RLAY)

According to the 24-hour chart, there is a support level at 16.96, which, if violated, would cause prices to drop to 16.15. In the upper region, resistance lies at 18.45. The next price resistance is at 19.13. RSI (Relative Strength Index) is 53.16 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.44, which suggests the price will increase in the coming days. Percent R is at 9.36%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Which companies own the most shares of Relay Therapeutics Inc. (RLAY)?

According to Fidelity Management & Research Co filings, the company currently owns 15,295,430 shares, which is about 14.08% of the total RLAY shares outstanding. The investor’s shares have appreciated by 10,822 from its previous 13-F filing of 15284608.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $98,597,818. T. Rowe Price Associates, Inc. acquire a 20.32% interest valued at $81.4 million while BlackRock Fund Advisors purchased a 15,817 stake. A total of 1,400,000 shares of Relay Therapeutics Inc. were bought by BVF Partners LP during the quarter, and 16,332 were bought by Driehaus Capital Management LLC. In its current portfolio, Bellevue Asset Management AG holds 3,918,962 shares valued at $63.8 million.

In terms of Relay Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $40.00 in the next 12 months, up nearly 160.42% from the previous closing price of $17.28. Analysts anticipate Relay Therapeutics Inc. stock to reach $47.00 by 2022, with the lowest price target being $13.00. In spite of this, 9 analysts ranked Relay Therapeutics Inc. stock as a Buy at the end of 2022. On December 08, 2020, JMP Securities assigned a price target of “a Mkt outperform” to the stock and initiated coverage with a $66.

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