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

Relay Therapeutics, Inc. (NASDAQ:RLAY) was the target of some unusual options trading on Wednesday. Traders acquired 5,007 put options on the stock. This represents an increase of approximately 573% compared to the average volume of 744 put options.

Analyst Ratings Changes

Several brokerages recently weighed in on RLAY. Weiss Ratings reiterated a “sell (d-)” rating on shares of Relay Therapeutics in a report on Wednesday, April 8th. HC Wainwright lifted their price objective on shares of Relay Therapeutics from $19.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Guggenheim increased their price objective on shares of Relay Therapeutics from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, March 13th. Citizens Jmp raised their target price on shares of Relay Therapeutics from $19.00 to $21.00 and gave the stock a “market outperform” rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their target price on shares of Relay Therapeutics from $17.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, April 28th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.60.

Relay Therapeutics Stock Up 5.6%

Shares of NASDAQ:RLAY traded up $0.67 during trading on Wednesday, reaching $12.74. 1,505,274 shares of the company’s stock traded hands, compared to its average volume of 2,913,018. Relay Therapeutics has a fifty-two week low of $2.75 and a fifty-two week high of $17.32. The company has a 50-day simple moving average of $12.56 and a 200-day simple moving average of $9.62. The firm has a market cap of $2.44 billion, a PE ratio of -8.09 and a beta of 1.74.

Relay Therapeutics (NASDAQ:RLAY) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.06). The company had revenue of $3.00 million during the quarter, compared to the consensus estimate of $5.58 million. On average, equities research analysts forecast that Relay Therapeutics will post -1.6 EPS for the current year.

Key Headlines Impacting Relay Therapeutics

Here are the key news stories impacting Relay Therapeutics this week:

• Positive Sentiment: Relay said zovegalisib produced early tumor/lesion shrinkage and symptom improvement in a rare-disease setting, reinforcing the drug’s differentiation and commercial potential. Article Title
• Positive Sentiment: The company opened expansion cohorts in adults and adolescents, signaling momentum in the clinical program and a path toward broader development. Article Title
• Positive Sentiment: Raymond James raised its price target on RLAY, reflecting improved Wall Street confidence in the pipeline after the new data. Article Title
• Neutral Sentiment: Relay also announced a proposed $175 million common-stock offering, which increases cash resources but can dilute existing shareholders. Article Title
• Negative Sentiment: The new equity raise may pressure the stock in the near term because it adds supply and suggests management wants to bolster the balance sheet after the recent run-up. Article Title

Insider Buying and Selling at Relay Therapeutics

In other news, CFO Thomas Catinazzo sold 17,717 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $12.86, for a total value of $227,840.62. Following the transaction, the chief financial officer directly owned 195,178 shares of the company’s stock, valued at approximately $2,509,989.08. This represents a 8.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 40,449 shares of company stock valued at $532,889 over the last quarter. 5.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of America Corp DE increased its holdings in Relay Therapeutics by 86.1% in the 1st quarter. Bank of America Corp DE now owns 1,937,695 shares of the company’s stock worth $19,280,000 after acquiring an additional 896,746 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in Relay Therapeutics by 77.8% during the first quarter. Janus Henderson Group PLC now owns 65,573 shares of the company’s stock valued at $652,000 after purchasing an additional 28,700 shares in the last quarter. Amundi acquired a new stake in shares of Relay Therapeutics in the first quarter valued at about $213,000. California State Teachers Retirement System increased its stake in shares of Relay Therapeutics by 47.9% during the first quarter. California State Teachers Retirement System now owns 174,099 shares of the company’s stock worth $1,732,000 after purchasing an additional 56,422 shares in the last quarter. Finally, EcoR1 Capital LLC acquired a new position in shares of Relay Therapeutics during the 1st quarter worth about $18,952,000. Hedge funds and other institutional investors own 96.98% of the company’s stock.

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.