Rallybio Corporation (NASDAQ:RLYB – Get Free Report)’s stock price was up 1.9% during mid-day trading on Friday. The company traded as high as $17.22 and last traded at $17.08. Approximately 7,854 shares changed hands during trading, a decline of 17% from the average daily volume of 9,445 shares. The stock had previously closed at $16.76.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Weiss Ratings cut Rallybio from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 11th. Wall Street Zen raised Rallybio from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Rallybio currently has a consensus rating of “Sell”.
Read Our Latest Analysis on RLYB
Rallybio Trading Up 1.9%
Rallybio (NASDAQ:RLYB – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($1.09) EPS for the quarter, beating the consensus estimate of ($1.28) by $0.19. Rallybio had a negative net margin of 911.07% and a negative return on equity of 40.53%.
Hedge Funds Weigh In On Rallybio
Institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in shares of Rallybio by 73.5% in the 2nd quarter. BlackRock Inc. now owns 30,332 shares of the company’s stock valued at $485,000 after purchasing an additional 12,846 shares in the last quarter. State Street Corp acquired a new position in Rallybio during the 2nd quarter worth approximately $208,000. Citadel Advisors LLC bought a new position in Rallybio in the 2nd quarter valued at approximately $1,155,000. Finally, ADAR1 Capital Management LLC lifted its stake in Rallybio by 4,411.1% in the 2nd quarter. ADAR1 Capital Management LLC now owns 926,352 shares of the company’s stock valued at $14,822,000 after purchasing an additional 905,817 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.
About Rallybio
Rallybio Corporation (NASDAQ:RLYB) is a clinical-stage biotechnology company focused on developing therapies for rare diseases and conditions with significant unmet medical needs. The company seeks to address disorders in which relatively small patient populations may face limited treatment options.
Rallybio’s pipeline has included RLYB212, an investigational antibody designed to prevent fetal and neonatal alloimmune thrombocytopenia, a potentially serious condition that can occur when maternal antibodies attack fetal platelets.
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