Rallybio Stock Scheduled to Reverse Split on Friday, November 20th (NASDAQ:RLYB)

Key Points

• Rallybio plans a 1-for-2 reverse stock split effective Friday, November 20; shareholder positions will be adjusted after the market closes November 19.
• The company announced a $13.56-per-share special dividend, payable November 13 to shareholders of record on November 5.
• Rallybio reported quarterly EPS of ($0.48), better than the analyst consensus estimate of ($1.44), though MarketBeat’s overall analyst rating remains “Sell.”

Rallybio Corporation (NASDAQ:RLYB - Free Report)'s stock is scheduled to reverse split on Friday, November 20th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, November 19th.

Rallybio Stock Up 0.3%

Rallybio stock traded up $0.04 during mid-day trading on Wednesday, hitting $15.80. 44,475 shares of the company were exchanged, compared to its average volume of 119,688. The business has a fifty day moving average of $16.59 and a 200 day moving average of $13.23. Rallybio has a 1-year low of $3.67 and a 1-year high of $17.57. The company has a market capitalization of $85.00 million, a PE ratio of -3.64 and a beta of -0.73.

Rallybio (NASDAQ:RLYB - Get Free Report) last issued its quarterly earnings data on Tuesday, October 27th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($1.44) by $0.96. Rallybio had a negative return on equity of 31.44% and a negative net margin of 911.07%.

Rallybio Dividend Announcement

The company also recently announced a special dividend, which will be paid on Friday, November 13th. Investors of record on Thursday, November 5th will be given a dividend of $13.56 per share.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Wall Street Zen upgraded shares of Rallybio from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Weiss Ratings lowered shares of Rallybio from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, October 30th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company presently has a consensus rating of "Sell".

Institutional Trading of Rallybio

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp bought a new stake in Rallybio during the 2nd quarter worth about $208,000. Citadel Advisors LLC bought a new position in shares of Rallybio in the second quarter worth about $1,155,000. ADAR1 Capital Management LLC raised its stake in shares of Rallybio by 4,411.1% in the second quarter. ADAR1 Capital Management LLC now owns 926,352 shares of the company's stock worth $14,822,000 after acquiring an additional 905,817 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Rallybio by 73.5% during the second quarter. BlackRock Inc. now owns 30,332 shares of the company's stock worth $485,000 after purchasing an additional 12,846 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Rallybio Company Profile

Rallybio Corporation is a clinical-stage biotechnology company focused on developing medicines for patients with rare diseases, with an emphasis on conditions that affect maternal and fetal health, as well as other serious disorders with limited treatment options. The company is headquartered in New Haven, Connecticut, and its programs are intended for specialized patient populations in the United States and international markets. Rallybio's lead program, RLYB212, is being developed to prevent fetal and neonatal alloimmune thrombocytopenia, a rare condition in which maternal antibodies attack fetal platelets during pregnancy.

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