Relay Therapeutics Inc. [RLAY] moved down -16.56: Why It’s Important

Relay Therapeutics Inc. [NASDAQ: RLAY] plunged by -$4.77 during the normal trading session on Tuesday and reaching a high of $26.00 during the day while it closed the day at $24.03. The company report on September 12, 2022 that Relay Therapeutics Announces Pricing of Public Offering of Common Stock.


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Relay Therapeutics, Inc. (Nasdaq: RLAY), a clinical-stage precision medicine company transforming the drug discovery process by combining leading-edge computational and experimental technologies, announced today the pricing of an underwritten public offering of 11,320,755 shares of its common stock at a public offering price of $26.50 per share. Relay Therapeutics also granted the underwriters a 30-day option to purchase up to an additional 1,698,113 shares of its common stock. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $300.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. All of the shares in the offering are to be sold by Relay Therapeutics.

Goldman Sachs & Co. LLC, J.P. Morgan, and Cowen are acting as joint book-running managers for the offering. BofA Securities is also acting as a book-running manager. The offering is expected to close on or about September 15, 2022, subject to customary closing conditions.

Relay Therapeutics Inc. stock has also gained 3.71% of its value over the past 7 days. However, RLAY stock has inclined by 80.54% in the 3 months of the year. Over the past six months meanwhile, it has gained 5.81% and lost -21.75% year-on date.

The market cap for RLAY stock reached $2.64 billion, with 108.64 million shares outstanding and 106.14 million shares in the current float. Compared to the average trading volume of 1.17M shares, RLAY reached a trading volume of 7533116 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Relay Therapeutics Inc. [RLAY]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RLAY shares is $41.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RLAY stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for Relay Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 02, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Underperform. The new note on the price target was released on June 06, 2022, representing the official price target for Relay Therapeutics Inc. stock. Previously, the target price had yet another raise to $45, while Berenberg analysts kept a Buy rating on RLAY stock.

The Average True Range (ATR) for Relay Therapeutics Inc. is set at 2.65, with the Price to Sales ratio for RLAY stock in the period of the last 12 months amounting to 1317.93. The Price to Book ratio for the last quarter was 3.35, with the Price to Cash per share for the same quarter was set at 7.64.

RLAY stock trade performance evaluation

Relay Therapeutics Inc. [RLAY] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.71. With this latest performance, RLAY shares gained by 16.09% in over the last four-week period, additionally plugging by 5.81% over the last 6 months – not to mention a drop of -32.69% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RLAY stock in for the last two-week period is set at 50.58, with the RSI for the last a single of trading hit 47.34, and the three-weeks RSI is set at 51.96 for Relay Therapeutics Inc. [RLAY]. The present Moving Average for the last 50 days of trading for this stock 21.69, while it was recorded at 27.71 for the last single week of trading, and 23.40 for the last 200 days.

Relay Therapeutics Inc. [RLAY]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Relay Therapeutics Inc. [RLAY] shares currently have an operating margin of -7464.74 and a Gross Margin at -29.58. Relay Therapeutics Inc.’s Net Margin is presently recorded at -12012.94.

Return on Equity for this stock declined to -43.81, with Return on Assets sitting at -40.25.

Relay Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 19.50 and a Current Ratio set at 19.50.

Relay Therapeutics Inc. [RLAY]: Insider Ownership positions

There are presently around $2,852 million, in the hands of institutional investors. The top three institutional holders of RLAY stocks are: SB INVESTMENT ADVISERS (UK) LTD with ownership of 27,904,963, which is approximately 0% of the company’s market cap and around 0.50% of the total institutional ownership; FMR LLC, holding 13,335,055 shares of the stock with an approximate value of $320.44 million in RLAY stocks shares; and VANGUARD GROUP INC, currently with $170.58 million in RLAY stock with ownership of nearly 14.167% of the company’s market capitalization.

Positions in Relay Therapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 96 institutional holders increased their position in Relay Therapeutics Inc. [NASDAQ:RLAY] by around 12,311,965 shares. Additionally, 39 investors decreased positions by around 4,571,714 shares, while 30 investors held positions by with 101,799,199 shares. The mentioned changes placed institutional holdings at 118,682,878 shares, according to the latest SEC report filing. RLAY stock had 27 new institutional investments in for a total of 982,319 shares, while 16 institutional investors sold positions of 131,963 shares during the same period.

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