RayzeBio (NASDAQ:RYZB) Trading Down 4.9%

RayzeBio, Inc. (NASDAQ:RYZB) shares dropped 4.9% during mid-day trading on Friday . The stock traded as low as $19.02 and last traded at $19.02. Approximately 24,978 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 250,362 shares. The stock had previously closed at $19.99.

Analyst Upgrades and Downgrades

RYZB has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of RayzeBio in a research note on Tuesday, October 10th. They issued a “buy” rating and a $35.00 target price 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. Evercore ISI started coverage on shares of RayzeBio in a report on Wednesday, October 11th. They set an “outperform” rating for the company. Truist Financial started coverage on shares of RayzeBio in a report on Tuesday, October 10th. They set a “buy” rating and a $29.00 target price for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of RayzeBio in a report on Tuesday, October 10th. They set an “overweight” rating and a $30.00 target price for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $31.33.

RayzeBio Stock Performance

The stock’s 50-day moving average price is $20.42.

Insider Buying and Selling at RayzeBio

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

Institutional Trading of RayzeBio

Several hedge funds have recently added to or reduced their stakes in the company. UBS Group AG purchased a new position in RayzeBio in the third quarter valued at approximately $76,000. Citigroup Inc. acquired a new position in shares of RayzeBio in the 3rd quarter valued at $553,000. Vivo Capital LLC acquired a new position in shares of RayzeBio in the 3rd quarter valued at $14,065,000. Versant Venture Management LLC acquired a new position in shares of RayzeBio in the 3rd quarter valued at $114,511,000. Finally, Platinum Investment Management Ltd. acquired a new position in shares of RayzeBio in the 3rd quarter valued at $4,933,000.

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.