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 $5,890 were sold by Bergstrom Donald A on Mar 27 ’24. At $7.70 per share, Bergstrom Donald A sold 765 shares. The insider’s holdings dropped to 530,113 shares worth approximately $3.78 million following the completion of this transaction.
Also, Catinazzo Thomas sold 348 shares, netting a total of over 2,680 in proceeds. Following the sale of shares at $7.70 each, the insider now holds 341,498 shares.
Before that, Adams Brian had sold 348 shares from its account. In a trade valued at $2,680, the Chief Legal Officer traded Relay Therapeutics Inc shares for $7.70 each. Upon closing the transaction, the insider’s holdings decreased to 348 shares, worth approximately $2.33 million.
As published in a research note from Jefferies on April 20, 2023, Relay Therapeutics Inc [RLAY] has been rated up from an Underperform to a Hold and the price target has been revised to $12.50. Analysts at Raymond James upgraded the stock from ‘”an Outperform”‘ to ‘”a Strong buy”‘ outlook in a report released in mid April. As of April 13, 2023, Raymond James has initiated its “an Outperform” rating for RLAY. Earlier on February 03, 2023, Oppenheimer initiated its rating. Their recommendation was “an Outperform” for RLAY stock.
Analyzing RLAY Stock Performance
During the last five days, there has been a surge of approximately 2.44%. Over the course of the year, Relay Therapeutics Inc shares have dropped approximately -35.24%. Shares of the company reached a 52-week high of $12.14 on 01/08/24 and a 52-week low of $6.75 on 04/05/24. A 50-day SMA is recorded $8.90, while a 200-day SMA reached $9.60. Nevertheless, trading volume fell to 0.77 million shares from 0.67 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 6.90, which, if violated, would cause prices to drop to 6.66. In the upper region, resistance lies at 7.26. The next price resistance is at 7.38. RSI (Relative Strength Index) is 37.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.35, which suggests the price will decrease in the coming days. Percent R is at 77.38%, indicating bearish price movement. Stochastics %K at holding 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 Mar 15, 2024 jumping by 2.0 million shares to 11.81 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 9.81 million shares. A jump of 16.93% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 9.96 of the overall float, the days-to-cover ratio (short ratio) jumped to 9.96.
