1,727,067 Shares in Rallybio Co. (NASDAQ:RLYB) Purchased by abrdn plc

abrdn plc bought a new stake in shares of Rallybio Co. (NASDAQ:RLYB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,727,067 shares of the company's stock, valued at approximately $4,128,000. abrdn plc owned about 4.57% of Rallybio at the end of the most recent reporting period.

Separately, SG Americas Securities LLC acquired a new stake in Rallybio during the 4th quarter worth about $40,000. 90.34% of the stock is owned by institutional investors and hedge funds.

Rallybio Trading Up 8.8 %

NASDAQ RLYB traded up $0.15 during trading on Monday, reaching $1.85. The company's stock had a trading volume of 298,041 shares, compared to its average volume of 1,293,492. The stock has a market capitalization of $69.95 million, a PE ratio of -1.01 and a beta of -1.64. Rallybio Co. has a 1-year low of $1.23 and a 1-year high of $9.14. The business has a 50-day moving average price of $1.80 and a 200-day moving average price of $2.23.

Rallybio (NASDAQ:RLYB - Get Free Report) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.06). As a group, analysts expect that Rallybio Co. will post -1.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RLYB has been the topic of several analyst reports. Wedbush dropped their target price on shares of Rallybio from $13.00 to $11.00 and set an "outperform" rating on the stock in a research report on Thursday, April 11th. JMP Securities reissued a "market outperform" rating and set a $8.00 target price on shares of Rallybio in a research note on Thursday, April 18th. Jefferies Financial Group downgraded Rallybio from a "buy" rating to a "hold" rating in a report on Wednesday, February 7th. Finally, HC Wainwright reduced their price objective on Rallybio from $12.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $12.20.

Rallybio Profile

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.