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With 0.96% Distance From Low, Could Relay Therapeutics Inc. (NASDAQ:RLAY) Post Further Gains?

In last trading session, Relay Therapeutics Inc. (NASDAQ:RLAY) saw 4.69 million shares changing hands with its beta currently measuring 1.38. Company’s recent per share price level of $9.37 trading at -$0.24 or -2.50% at ring of the bell on the day assigns it a market valuation of $1.18B. That closing price of RLAY’s stock is at a discount of -176.31% from its 52-week high price of $25.89 and is indicating a premium of 0.96% from its 52-week low price of $9.28. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.95 million shares which gives us an average trading volume of 1.00 million if we extend that period to 3-months.

Relay Therapeutics Inc. (NASDAQ:RLAY) trade information

Upright in the red during last session for losing -2.50%, in the last five days RLAY remained trading in the red while hitting it’s week-highest on Tuesday, 09/12/23 when the stock touched $9.37 price level, adding 9.29% to its value on the day. Relay Therapeutics Inc.’s shares saw a change of -37.28% in year-to-date performance and have moved -3.70% in past 5-day. Relay Therapeutics Inc. (NASDAQ:RLAY) showed a performance of -10.25% in past 30-days. Number of shares sold short was 20.7 million shares which calculate 23.18 days to cover the short interests.

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Relay Therapeutics Inc. (RLAY) estimates and forecasts

Statistics highlight that Relay Therapeutics Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -42.44% of value to its shares in past 6 months, showing an annual growth rate of -27.03% while that of industry is 9.70. Apart from that, the company came lowering its revenue forecast for fiscal year 2023. The company is estimating its revenue growth to decrease by -10.50% in the current quarter and calculating -55.40% decrease in the next quarter. This year revenue growth is estimated to rise 25.30% from the last financial year’s standing.

11 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $400k for the same. And 11 analysts are in estimates of company making revenue of $590k in the next quarter that will end on Dec 2023. Company posted $1.66 million and $253k of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -75.90% while estimating it to be 133.20% for the next quarter.

RLAY Dividends

Relay Therapeutics Inc. is more likely to be releasing its next quarterly report between November 01 and November 06 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

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

Insiders are in possession of 2.42% of company’s total shares while institution are holding 110.76 percent of that, with stock having share float percentage of 113.50%. Investors also watch the number of corporate investors in a company very closely, which is 110.76% institutions for Relay Therapeutics Inc. that are currently holding shares of the company. SB Investment Advisers (UK) LTD is the top institutional holder at RLAY for having 27.9 million shares of worth $261.47 million. And as of Jun 29, 2023, it was holding 22.85% of the company’s outstanding shares.

The second largest institutional holder is Vanguard Group Inc, which was holding about 10.53 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 8.62% of outstanding shares, having a total worth of $98.65 million.

On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Jul 30, 2023, the former fund manager was holding 5.46 million shares of worth $51.14 million or 4.47% of the total outstanding shares. The later fund manager was in possession of 3.64 million shares on Jun 29, 2023, making its stake of worth around $34.07 million in the company or a holder of 2.98% of company’s stock.

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