A company insider recently sold 14,000 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 $287,700 were sold by Patel Sanjiv on Feb 09. At $20.55 per share, Patel Sanjiv sold 14,000 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.

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Also, Patel Sanjiv sold 14,000 shares, netting a total of over 293,720 in proceeds. Following the sale of shares at $20.98 each, the insider now holds 0 shares.

Before that, Patel Sanjiv had sold 14,000 shares from its account. In a trade valued at $300,300, the President and CEO traded Relay Therapeutics Inc. shares for $21.45 each. Upon closing the transaction, the insider’s holdings decreased to 14,000 shares, worth approximately $0.0.

As published in their initiating research note from Oppenheimer on February 03, 2023, Relay Therapeutics Inc. [RLAY] has been an Outperform and the price target has been revised to $33. This represents a 51.09% premium over Wednesday’s closing price. Analysts at Barclays started covering the stock with ‘”an Equal weight”‘ outlook in a report released in late September. As of September 02, 2022, Stifel has initiated its “Buy” rating for RLAY. Earlier on June 06, 2022, Jefferies initiated its rating. Their recommendation was “an Underperform” for RLAY stock.

Analyzing RLAY Stock Performance

On Wednesday, Relay Therapeutics Inc. [NASDAQ: RLAY] plunged -0.06% to $16.14. The stock’s lowest price that day was $15.95, but it reached a high of $16.39 in the same session. During the last five days, there has been a drop of approximately -8.81%. Over the course of the year, Relay Therapeutics Inc. shares have jumped approximately 8.03%. Shares of the company reached a 52-week high of $23.18 on 02/02/23 and a 52-week low of $14.80 on 01/06/23. A 50-day SMA is recorded $18.21, while a 200-day SMA reached $19.60. Nevertheless, trading volume fell to 0.82 million shares from 1.11 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 15.93, which, if violated, would cause prices to drop to 15.72. In the upper region, resistance lies at 16.37. The next price resistance is at 16.60. RSI (Relative Strength Index) is 33.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.55, which suggests the price will decrease in the coming days. Percent R is at 96.06%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Relay Therapeutics Inc. subject to short interest?

Stocks of Relay Therapeutics Inc. saw a sharp rise in short interest on Jan 12, 2023 jumping by 5.23 million shares to 18.66 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 13.43 million shares. A jump of 28.03% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 9.52 of the overall float, the days-to-cover ratio (short ratio) jumped to 9.52.

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

According to The Vanguard Group, Inc. filings, the company currently owns 10,236,647 shares, which is about 8.47% of the total RLAY shares outstanding. The investor’s shares have appreciated by 2,017,035 from its previous 13-F filing of 8219612.0 shares. With the completion of the sale transaction, Fidelity Management & Research Co’s stake is now worth $182,315,576. BlackRock Fund Advisors acquire a 20.02% interest valued at $137.16 million while SSgA Funds Management, Inc. purchased a 2,596,427 stake. A total of -68,359 shares of Relay Therapeutics Inc. were bought by T. Rowe Price Associates, Inc. during the quarter, and 0 by Bellevue Asset Management AG. In its current portfolio, EcoR1 Capital, LLC holds 4,163,824 shares valued at $89.36 million.

In terms of Relay Therapeutics Inc. share price expectations, FactSet research, analysts set an average price target of $35.13 in the next 12 months, up nearly 122.91% from the previous closing price of $16.15. Analysts anticipate Relay Therapeutics Inc. stock to reach $45.00 by 2023, with the lowest price target being $23.00. In spite of this, 9 analysts ranked Relay Therapeutics Inc. stock as a Buy at the end of 2023. On February 01, 2022, Berenberg assigned a price target of “a Buy” to the stock and initiated coverage with a $45.


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