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Relay Therapeutics Inc. (RLAY) Is A Bargain Stock You Should Check Out

Relay Therapeutics Inc. (NASDAQ:RLAY) has seen 1.08 million shares traded in the last trading session. The company, currently valued at $3.05B, closed the last trade at $23.69 per share which meant it lost -$0.15 on the day or -0.63% during that session. The RLAY stock price is -61.04% off its 52-week high price of $38.15 and 46.6% above the 52-week low of $12.65. If we look at the company’s 10-day average daily trading volume, we find that it stood at 2.63 million shares traded. The 3-month trading volume is 1.30 million shares.

The consensus among analysts is that Relay Therapeutics Inc. (RLAY) is a Buy stock at the moment, with a recommendation rating of 2.10. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 0 out of 10 have rated it as a Hold, with 9 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.63.

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Relay Therapeutics Inc. (NASDAQ:RLAY) trade information

Sporting -0.63% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the RLAY stock price touched $23.69 or saw a rise of 8.5%. Year-to-date, Relay Therapeutics Inc. shares have moved -22.86%, while the 5-day performance has seen it change -1.41%. Over the past 30 days, the shares of Relay Therapeutics Inc. (NASDAQ:RLAY) have changed 21.92%. Short interest in the company has seen 19.02 million shares shorted with days to cover at 13.87.

Wall Street analysts have a consensus price target for the stock at $40.44, which means that the shares’ value could jump 41.42% from current levels. The projected low price target is $16.00 while the price target rests at a high of $50.00. In that case, then, we find that the current price level is -111.06% off the targeted high while a plunge would see the stock lose 32.46% from current levels.

Relay Therapeutics Inc. (RLAY) estimates and forecasts

Figures show that Relay Therapeutics Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -8.57% over the past 6 months, with this year growth rate of -1.48%, compared to 11.30% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 70.00% and -1.50% for the next quarter. Revenue growth from the last financial year stood is estimated to be 184.30%.

7 analysts offering their estimates for the company have set an average revenue estimate of $1.93 million for the current quarter. 7 have an estimated revenue figure of $140k for the next quarter concluding in Sep 2022.

RLAY Dividends

Relay Therapeutics Inc. is expected to release its next earnings report between March 23 and March 28 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Relay Therapeutics Inc. (NASDAQ:RLAY)’s Major holders

Insiders own 2.54% of the company shares, while shares held by institutions stand at 106.17% with a share float percentage of 108.94%. Investors are also buoyed by the number of investors in a company, with Relay Therapeutics Inc. having a total of 237 institutions that hold shares in the company. The top two institutional holders are SB Investment Advisers (UK) LTD with over 27.9 million shares worth more than $835.2 million. As of Mar 30, 2022, SB Investment Advisers (UK) LTD held 25.68% of shares outstanding.

The other major institutional holder is FMR, LLC, with the holding of over 16.24 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $486.12 million and represent 14.95% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Fidelity OTC Portfolio. As of Jun 29, 2022, the former fund manager holds about 3.08% shares in the company for having 3.35 million shares of worth $56.11 million while later fund manager owns 2.64 million shares of worth $43.04 million as of May 30, 2022, which makes it owner of about 2.43% of company’s outstanding stock.

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