Rallybio (NASDAQ:RLYB) Stock Jumps 1.9% – Here’s Why

by · The Markets Daily

Rallybio Corporation (NASDAQ:RLYB – Get Free Report)’s stock price traded up 1.9% during mid-day trading on Friday. The stock traded as high as $17.22 and last traded at $17.08. 7,854 shares changed hands during trading, a decline of 17% from the average session volume of 9,445 shares. The stock had previously closed at $16.76.

Wall Street Analyst Weigh In

RLYB has been the topic of several recent research reports. Wall Street Zen raised Rallybio from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Weiss Ratings cut Rallybio from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 11th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Rallybio has a consensus rating of “Sell”.

Get Our Latest Analysis on Rallybio

Rallybio Stock Performance

The business’s fifty day moving average is $16.71 and its 200-day moving average is $14.31. The firm has a market cap of $90.69 million, a P/E ratio of -3.94 and a beta of -0.72.

Rallybio (NASDAQ:RLYB – Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($1.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.28) by $0.19. Rallybio had a negative net margin of 911.07% and a negative return on equity of 40.53%.

Institutional Investors Weigh In On Rallybio

Several institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp bought a new stake in Rallybio in the second quarter valued at approximately $208,000. BlackRock Inc. increased its position in Rallybio by 73.5% during 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 during the period. Citadel Advisors LLC bought a new position in Rallybio during the 2nd quarter worth approximately $1,155,000. Finally, ADAR1 Capital Management LLC lifted its position in shares of Rallybio by 4,411.1% in the 2nd quarter. ADAR1 Capital Management LLC now owns 926,352 shares of the company’s stock worth $14,822,000 after purchasing an additional 905,817 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

About Rallybio

(Get Free Report)

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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