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Boom Or Bust? Where Will Relay Therapeutics Inc. (NASDAQ: RLAY) Stock Go Next?

During the last session, Relay Therapeutics Inc. (NASDAQ:RLAY)’s traded shares were 1.29 million. At the end of the trading day, the stock’s price was $11.57, reflecting an intraday loss of -1.11% or -$0.13. The 52-week high for the RLAY share is $33.06, that puts it down -185.74 from that peak though still a striking 16.42% gain since the share price plummeted to a 52-week low of $9.67. The company’s market capitalization is $1.37B, and the average intraday trading volume over the past 10 days was 1.39 million shares, and the average trade volume was 1.62 million shares over the past three months.

Relay Therapeutics Inc. (NASDAQ:RLAY) trade information

Relay Therapeutics Inc. (RLAY) registered a -1.11% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -1.11% in intraday trading to $11.57 this Wednesday, 05/24/23, hitting a weekly high. The stock’s 5-day price performance is 11.68%, and it has moved by -1.78% in 30 days. Based on these gigs, the overall price performance for the year is -34.34%. The short interest in Relay Therapeutics Inc. (NASDAQ:RLAY) is 19.8 million shares and it means that shorts have 8.87 day(s) to cover.

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Relay Therapeutics Inc. (RLAY) estimates and forecasts

Statistics show that Relay Therapeutics Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Relay Therapeutics Inc. (RLAY) shares have gone down -37.93% during the last six months, with a year-to-date growth rate less than the industry average at -24.71% against 13.20. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -14.10% this quarter and then drop -9.20% in the quarter after that. In the rating firms’ projections, revenue will increase 31.80% compared to the previous financial year.

Revenue for the current quarter is expected to be $840k as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $200k by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $365k and $1.66 million respectively. In this case, analysts expect current quarter sales to grow by 130.10% and then drop by -88.00% in the coming quarter.

While earnings are projected to return 32.30% in 2023.

RLAY Dividends

Relay Therapeutics Inc. is due to release its next quarterly earnings between August 02 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Relay Therapeutics Inc. insiders own 2.30% of total outstanding shares while institutional holders control 108.59%, with the float percentage being 111.15%. SB Investment Advisers (UK) LTD is the largest shareholder of the company, while 263 institutions own stock in it. As of Mar 30, 2023, the company held over 27.9 million shares (or 22.95% of all shares), a total value of $322.86 million in shares.

The next largest institutional holding, with 10.5 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 8.63% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $121.48 million.

Also, the Mutual Funds coming in first place with the largest holdings of Relay Therapeutics Inc. (RLAY) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. Data provided on Feb 27, 2023 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 4.03 million shares. This amounts to just over 3.31 percent of the company’s overall shares, with a $46.57 million market value. The same data shows that the other fund manager holds slightly less at 3.54 million, or about 2.91% of the stock, which is worth about $40.96 million.

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