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

Relay Therapeutics, Inc. (NASDAQ:RLAY) was the recipient of unusually large options trading activity on Tuesday. Stock investors bought 4,686 call options on the company. This is an increase of approximately 331% compared to the typical daily volume of 1,087 call options.

Relay Therapeutics Stock Performance

NASDAQ:RLAY traded up $1.61 during trading hours on Tuesday, hitting $15.87. The stock had a trading volume of 2,260,450 shares, compared to its average volume of 4,182,130. The business’s 50 day moving average is $13.19 and its 200-day moving average is $10.07. The company has a market cap of $3.04 billion, a price-to-earnings ratio of -10.98 and a beta of 1.74. Relay Therapeutics has a one year low of $2.93 and a one year high of $17.32.

Relay Therapeutics (NASDAQ:RLAY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The firm had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.58 million. On average, sell-side analysts anticipate that Relay Therapeutics will post -1.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Oppenheimer upped their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. The Goldman Sachs Group upped their price target on Relay Therapeutics from $13.00 to $22.00 and gave the company a “buy” rating in a research note on Tuesday, April 28th. Wells Fargo & Company raised their price target on Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, April 28th. Citigroup reiterated an “outperform” rating on shares of Relay Therapeutics in a research report on Wednesday, May 20th. Finally, Citizens Jmp boosted their price objective on Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a report on Wednesday, May 20th. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $23.30.

Insiders Place Their Bets

In other Relay Therapeutics news, CFO Thomas Catinazzo sold 17,717 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $12.86, for a total value of $227,840.62. Following the completion of the transaction, the chief financial officer directly owned 195,178 shares of the company’s stock, valued at approximately $2,509,989.08. The trade was a 8.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 40,449 shares of company stock valued at $532,889. Company insiders own 5.04% of the company’s stock.

Institutional Investors Weigh In On Relay Therapeutics

Large investors have recently modified their holdings of the business. Torren Management LLC acquired a new stake in shares of Relay Therapeutics during the fourth quarter worth about $30,000. KBC Group NV acquired a new position in shares of Relay Therapeutics in the 1st quarter valued at approximately $34,000. Smartleaf Asset Management LLC increased its stake in Relay Therapeutics by 288.6% during 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Relay Therapeutics during the 4th quarter worth approximately $46,000. Finally, Captrust Financial Advisors acquired a new stake in Relay Therapeutics during the 2nd quarter worth approximately $49,000. 96.98% of the stock is currently owned by institutional investors.

About Relay Therapeutics

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.