Shares of Relay Therapeutics Inc. /zigman2/quotes/219481362/composite RLAY -5.63% sprinted out of the gate Thursday, after the clinical-stage oncology company's upsized initial public offering priced above the expected range. The first trade was at $35.00 at 11:59 a.m. Eastern for 1.5 million shares, or 75% above the $20 IPO price. On Wednesday, the company said said it was selling 20 million shares in the IPO, which was expected price between $18 and $19 a share, compared with previous plans to sell 14.7 million shares at between $16 to $18 a share. At the IPO price, the company raised $400 million and was valued at $1.74 billion. The company went public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +1.12% has run up 48.5% over the past three months, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.40% has advanced 114.5%.