RayzeBio (NASDAQ:RYZB) Trading Up 6.9%

RayzeBio, Inc. (NASDAQ:RYZB) shares were up 6.9% during trading on Monday . The company traded as high as $24.46 and last traded at $24.29. Approximately 81,358 shares were traded during trading, a decline of 66% from the average daily volume of 240,264 shares. The stock had previously closed at $22.72.

Analysts Set New Price Targets

A number of research analysts have recently commented on RYZB shares. Jefferies Financial Group started coverage on shares of RayzeBio in a research report on Tuesday, October 10th. They set a “buy” rating and a $35.00 price target for the company. William Blair started coverage on shares of RayzeBio in a research report on Friday, October 6th. They set an “outperform” rating for the company. Truist Financial assumed coverage on shares of RayzeBio in a research report on Tuesday, October 10th. They set a “buy” rating and a $29.00 price target for the company. JPMorgan Chase & Co. assumed coverage on shares of RayzeBio in a research report on Tuesday, October 10th. They issued an “overweight” rating and a $30.00 target price for the company. Finally, Evercore ISI assumed coverage on shares of RayzeBio in a research report on Wednesday, October 11th. They issued an “outperform” rating for the company. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, RayzeBio has an average rating of “Buy” and a consensus target price of $31.33.

RayzeBio Stock Performance

The business has a 50-day simple moving average of $20.54.

Insider Buying and Selling

In related news, major shareholder Global Investors Lp Viking acquired 1,388,889 shares of RayzeBio stock in a transaction dated Tuesday, September 19th. The shares were purchased at an average cost of $18.00 per share, with a total value of $25,000,002.00. Following the completion of the purchase, the insider now owns 4,899,144 shares of the company’s stock, valued at $88,184,592. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Maha Katabi bought 472,222 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was bought at an average cost of $18.00 per share, for a total transaction of $8,499,996.00. Following the acquisition, the director now directly owns 1,209,764 shares of the company’s stock, valued at approximately $21,775,752. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Global Investors Lp Viking bought 1,388,889 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were bought at an average price of $18.00 per share, with a total value of $25,000,002.00. Following the completion of the acquisition, the insider now directly owns 4,899,144 shares in the company, valued at $88,184,592. The disclosure for this purchase can be found here.

Institutional Investors Weigh In On RayzeBio

Several institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company purchased a new stake in RayzeBio during the 3rd quarter valued at about $560,000. RTW Investments LP purchased a new stake in RayzeBio during the 3rd quarter valued at about $1,028,000. Redmile Group LLC purchased a new stake in RayzeBio during the 3rd quarter valued at about $41,241,000. Laurion Capital Management LP purchased a new stake in RayzeBio during the 3rd quarter valued at about $21,576,000. Finally, Acuta Capital Partners LLC purchased a new stake in RayzeBio during the 3rd quarter valued at about $7,649,000.

RayzeBio Company Profile

RayzeBio, Inc develops radiopharmaceutical therapeutics (RPT) for the treatment of cancer. The company's lead drug candidate is RYZ101, which is in phase 3 clinical trial for the treatment of gasteroenteropancreatic neuroendocrine tumors (GEP-NETs). It also develops RYZ801, a novel proprietary peptide that targets GPC3 for delivery of Ac225 for the treatment of hepatocellular carcinoma (HCC); RYZ811, a paired diagnostic imaging agent with the peptide binder, chelator, and Ga68 as the radioisotope; and a novel proprietary small molecule that targets CA9 for delivery of Ac225 for the treatment of ccRCC.