Almitas Capital LLC Takes Position in Rallybio Co. (NASDAQ:RLYB)

Almitas Capital LLC bought a new stake in Rallybio Co. (NASDAQ:RLYB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 100,876 shares of the company’s stock, valued at approximately $135,000. Almitas Capital LLC owned about 0.24% of Rallybio as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Rallybio by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock valued at $1,992,000 after acquiring an additional 12,801 shares during the last quarter. Johnson & Johnson acquired a new stake in shares of Rallybio in the second quarter valued at about $4,873,000. Acadian Asset Management LLC acquired a new stake in shares of Rallybio in the first quarter valued at about $57,000. Hsbc Holdings PLC acquired a new stake in shares of Rallybio in the second quarter valued at about $25,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Rallybio in the second quarter valued at about $61,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Evercore ISI reissued an “outperform” rating and set a $15.00 price target on shares of Rallybio in a research report on Monday, August 26th. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Rallybio in a research report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $10.00.

Rallybio Trading Down 0.5 %

NASDAQ:RLYB opened at $1.11 on Friday. The stock has a market cap of $45.85 million, a P/E ratio of -0.59 and a beta of -1.71. The stock has a 50 day simple moving average of $1.17 and a 200 day simple moving average of $1.46. Rallybio Co. has a 1-year low of $1.08 and a 1-year high of $4.60.

Rallybio (NASDAQ:RLYB) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.05. The firm had revenue of $0.30 million for the quarter. As a group, sell-side analysts forecast that Rallybio Co. will post -1.45 EPS for the current year.

About Rallybio

Rallybio Corporation, a clinical-stage biotechnology company, engages in development and commercialization of life-transforming therapies for patients suffering from severe and rare diseases. Its lead product candidate is RLYB212, a monoclonal anti-HPA-1a antibody that has completed Phase I clinical trial for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT); and RLYB211 for the prevention of FNAIT.