For This AI Drug Developer, Look Beyond the Rally

A handful of trendy biotech stocks were swept up in meme stock mania in early August. Relay Therapy (RLAY) wasn’t one of them – but it still rose.

The unknown drug developer uses artificial intelligence, machine learning and a supercomputer to design precision drugs.

Biotech stocks saw a daily trading volume of about 1.5 million shares in the last full week of August. That’s not much, but it was 50% higher than the stock’s 30-day average daily volume. Shares rose nearly 30% over the week before coughing up gains with the rest of the market.

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