Fmr LLC Acquires 25,422 Shares of Rallybio Co. (NASDAQ:RLYB)

Fmr LLC boosted its holdings in Rallybio Co. (NASDAQ:RLYB) by 1.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,315,480 shares of the company’s stock after acquiring an additional 25,422 shares during the quarter. Fmr LLC owned 0.06% of Rallybio worth $2,709,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in RLYB. Vanguard Group Inc. lifted its position in shares of Rallybio by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after acquiring an additional 12,801 shares in the last quarter. Johnson & Johnson bought a new stake in shares of Rallybio during the 2nd quarter valued at $4,873,000. Almitas Capital LLC purchased a new stake in Rallybio during the 2nd quarter worth about $135,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Rallybio in the 2nd quarter worth about $61,000. Finally, Acadian Asset Management LLC grew its holdings in Rallybio by 116.3% during the 2nd quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock valued at $89,000 after buying an additional 36,401 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Rallybio Stock Down 3.6 %

Shares of NASDAQ RLYB opened at $1.08 on Friday. The firm has a market cap of $44.81 million, a P/E ratio of -0.68 and a beta of -1.55. The company has a 50 day moving average of $1.07 and a 200 day moving average of $1.20. Rallybio Co. has a twelve month low of $0.95 and a twelve month high of $3.46.

Wall Street Analyst Weigh In

RLYB has been the topic of a number of recent analyst reports. Evercore ISI reiterated an “outperform” rating and issued a $15.00 price objective on shares of Rallybio in a research report on Monday, August 26th. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of Rallybio in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Rallybio currently has a consensus rating of “Moderate Buy” and an average price target of $9.75.

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.