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

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

Analyst Ratings Changes

Several research firms recently commented on RLAY. Weiss Ratings reissued a “sell (d-)” rating on shares of Relay Therapeutics in a research note on Wednesday, April 8th. Barclays upped their price objective on Relay Therapeutics from $21.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Oppenheimer upped their price objective on Relay Therapeutics from $14.00 to $18.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Raymond James Financial reaffirmed a “strong-buy” rating on shares of Relay Therapeutics in a research report on Tuesday, May 19th. Finally, Wall Street Zen cut Relay Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $23.30.

Relay Therapeutics Stock Performance

Relay Therapeutics stock opened at $15.30 on Thursday. Relay Therapeutics has a fifty-two week low of $2.98 and a fifty-two week high of $17.47. The company has a market capitalization of $2.93 billion, a P/E ratio of -9.75 and a beta of 1.75. The stock has a 50-day simple moving average of $13.42 and a 200-day simple moving average of $10.20.

Relay Therapeutics (NASDAQ:RLAY) last posted its earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.06). The firm had revenue of $3.00 million during the quarter, compared to analyst estimates of $5.58 million. As a group, analysts forecast that Relay Therapeutics will post -1.59 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Thomas Catinazzo sold 17,717 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $12.86, for a total transaction 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 $2,509,989.08. The trade was a 8.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 40,449 shares of company stock worth $532,889. Insiders own 5.04% of the company’s stock.

Institutional Trading of Relay Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Commodore Capital LP lifted its holdings in shares of Relay Therapeutics by 27.3% in the 3rd quarter. Commodore Capital LP now owns 17,000,000 shares of the company’s stock valued at $88,740,000 after purchasing an additional 3,650,000 shares during the last quarter. Casdin Capital LLC lifted its holdings in shares of Relay Therapeutics by 14.7% in the 4th quarter. Casdin Capital LLC now owns 13,003,574 shares of the company’s stock valued at $110,010,000 after purchasing an additional 1,662,193 shares during the last quarter. Perceptive Advisors LLC lifted its holdings in shares of Relay Therapeutics by 412.3% in the 1st quarter. Perceptive Advisors LLC now owns 9,751,141 shares of the company’s stock valued at $97,024,000 after purchasing an additional 7,847,896 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Relay Therapeutics by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 9,691,445 shares of the company’s stock valued at $81,990,000 after purchasing an additional 295,701 shares during the last quarter. Finally, Bellevue Group AG lifted its holdings in shares of Relay Therapeutics by 1.4% in the 3rd quarter. Bellevue Group AG now owns 8,345,610 shares of the company’s stock valued at $43,564,000 after purchasing an additional 114,740 shares during the last quarter. 96.98% of the stock is owned by hedge funds and other 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.