Relay Therapeutics Target of Unusually High Options Trading (NASDAQ:RLAY)

Relay Therapeutics, Inc. (NASDAQ:RLAY) saw unusually large options trading activity on Monday. Stock investors acquired 5,148 call options on the company. This is an increase of 1,428% compared to the average daily volume of 337 call options.

Relay Therapeutics Stock Up 1.3%

Shares of NASDAQ RLAY opened at $10.26 on Wednesday. The stock’s fifty day simple moving average is $8.80 and its 200 day simple moving average is $7.33. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -6.33 and a beta of 1.55. Relay Therapeutics has a 52-week low of $1.77 and a 52-week high of $11.49.

Relay Therapeutics (NASDAQ:RLAY) last announced its earnings results on Thursday, February 26th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.38) by $0.06. The company had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $4.34 million. As a group, analysts anticipate that Relay Therapeutics will post -2.55 earnings per share for the current year.

Analysts Set New Price Targets

RLAY has been the topic of a number of research reports. Guggenheim upped their price objective on Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a report on Friday, March 13th. Wells Fargo & Company lifted their target price on Relay Therapeutics from $15.00 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, January 9th. Oppenheimer restated an “outperform” rating on shares of Relay Therapeutics in a research report on Monday. Finally, Citizens Jmp lifted their price objective on shares of Relay Therapeutics from $15.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $17.17.

Insider Activity at Relay Therapeutics

In related news, CEO Sanjiv Patel sold 43,168 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $7.82, for a total transaction of $337,573.76. Following the sale, the chief executive officer owned 661,041 shares of the company’s stock, valued at $5,169,340.62. The trade was a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald A. Bergstrom sold 18,895 shares of the company’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total value of $143,979.90. Following the completion of the sale, the insider owned 422,733 shares of the company’s stock, valued at $3,221,225.46. This trade represents a 4.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 93,302 shares of company stock valued at $724,355. 4.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in RLAY. Torren Management LLC acquired a new stake in shares of Relay Therapeutics during the fourth quarter valued at approximately $30,000. Smartleaf Asset Management LLC boosted its stake in Relay Therapeutics by 288.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,426 shares of the company’s stock worth $37,000 after purchasing an additional 3,287 shares during the period. Quadrant Capital Group LLC grew its position in Relay Therapeutics by 245.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 11,791 shares of the company’s stock worth $41,000 after purchasing an additional 8,374 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Relay Therapeutics during the 4th quarter worth approximately $46,000. Finally, Quadrature Capital Ltd acquired a new stake in Relay Therapeutics during the 2nd quarter valued at $47,000. 96.98% of the stock is currently owned by institutional investors and hedge funds.

Relay Therapeutics Company Profile

Relay Therapeutics, Inc is a clinical-stage biotechnology company focused on the discovery and development of precision therapies for oncology. Headquartered in Cambridge, Massachusetts, the company was founded in 2016 with the goal of targeting dynamic protein motion using an integrated scientific platform. Relay Therapeutics leverages computational modeling, structural biology, and experimental validation to identify small-molecule drug candidates that modulate the behavior of disease-associated proteins.

The company’s core business activity centers on its proprietary drug-discovery engine, which combines high-performance computing—including molecular dynamics simulations—with advanced experimental techniques such as cryo-electron microscopy and biophysical screening.