Rallybio (NASDAQ:RLYB) Shares Up 12.7%

Rallybio Co. (NASDAQ:RLYBGet Rating)’s stock price shot up 12.7% on Tuesday . The company traded as high as $10.76 and last traded at $10.27. 55,961 shares traded hands during trading, a decline of 46% from the average session volume of 103,595 shares. The stock had previously closed at $9.11.

Rallybio Price Performance

The stock has a market capitalization of $329.99 million and a P/E ratio of -2.52. The stock’s fifty day moving average is $9.08 and its two-hundred day moving average is $9.75.

Rallybio (NASDAQ:RLYBGet Rating) last issued its earnings results on Tuesday, May 10th. The company reported ($0.48) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.48). Analysts expect that Rallybio Co. will post -2.16 EPS for the current year.

Insider Buying and Selling

In related news, Director Kush Parmar sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $13.00, for a total value of $1,300,000.00. Following the completion of the transaction, the director now owns 1,302,084 shares of the company’s stock, valued at approximately $16,927,092. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Rallybio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RLYB. Allspring Global Investments Holdings LLC acquired a new position in Rallybio in the 4th quarter worth approximately $27,000. California State Teachers Retirement System lifted its position in Rallybio by 124.8% in the 1st quarter. California State Teachers Retirement System now owns 7,694 shares of the company’s stock worth $54,000 after buying an additional 4,272 shares in the last quarter. American International Group Inc. lifted its position in Rallybio by 134.9% in the 1st quarter. American International Group Inc. now owns 8,984 shares of the company’s stock worth $63,000 after buying an additional 5,160 shares in the last quarter. Rhumbline Advisers purchased a new stake in Rallybio in the 1st quarter worth approximately $91,000. Finally, Goldman Sachs Group Inc. lifted its position in Rallybio by 17.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,289 shares of the company’s stock worth $107,000 after buying an additional 2,224 shares in the last quarter. Institutional investors and hedge funds own 92.87% of the company’s stock.

Rallybio Company Profile

(Get Rating)

Rallybio Corporation, a clinical-stage biotechnology company, engages in discovering, developing, manufacturing, and delivering therapies that enhance the lives of patients suffering from severe and rare diseases. Its lead product candidate is RLYB212, a monoclonal anti-HPA-1a antibody that is in Phase I clinical trial for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT).

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