Investors Purchase Large Volume of Relay Therapeutics Call Options (NASDAQ:RLAY)

Relay Therapeutics, Inc. (NASDAQ:RLAY) was the recipient of unusually large options trading activity on Monday. Stock traders acquired 5,148 call options on the stock. This represents an increase of approximately 1,428% compared to the typical daily volume of 337 call options.

Relay Therapeutics Stock Down 2.2%

Relay Therapeutics stock opened at $10.13 on Tuesday. Relay Therapeutics has a 52 week low of $1.77 and a 52 week high of $11.49. The company’s 50 day moving average price is $8.76 and its two-hundred day moving average price is $7.28. The stock has a market cap of $1.81 billion, a P/E ratio of -6.25 and a beta of 1.55.

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

Insider Buying and Selling at Relay Therapeutics

In other Relay Therapeutics news, CEO Sanjiv Patel sold 43,168 shares of the firm’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $7.82, for a total value of $337,573.76. Following the transaction, the chief executive officer directly owned 661,041 shares of the company’s stock, valued at approximately $5,169,340.62. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas Catinazzo sold 13,820 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $7.62, for a total transaction of $105,308.40. Following the sale, the chief financial officer directly owned 250,996 shares of the company’s stock, valued at approximately $1,912,589.52. The trade was a 5.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 93,302 shares of company stock valued at $724,355 over the last ninety days. 4.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Relay Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd purchased a new position in shares of Relay Therapeutics in the 4th quarter worth about $115,000. Seven Fleet Capital Management LP purchased a new stake in Relay Therapeutics during the fourth quarter worth about $618,000. Invesco Ltd. increased its holdings in Relay Therapeutics by 139.6% during the fourth quarter. Invesco Ltd. now owns 865,481 shares of the company’s stock worth $7,322,000 after buying an additional 504,291 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in Relay Therapeutics in the fourth quarter worth about $106,000. Finally, XTX Topco Ltd purchased a new position in Relay Therapeutics in the fourth quarter valued at about $1,332,000. 96.98% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RLAY. Oppenheimer reissued an “outperform” rating on shares of Relay Therapeutics in a report on Monday. Guggenheim raised their target price on Relay Therapeutics from $15.00 to $22.00 and gave the company a “buy” rating in a report on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Relay Therapeutics in a research report on Friday, January 9th. Finally, Wells Fargo & Company increased their price target on Relay Therapeutics from $13.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $16.80.

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.