Rallybio Co. (NASDAQ:RLYB – Get Rating) Director Kush Parmar sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $8.20, for a total value of $820,000.00. Following the completion of the sale, the director now directly owns 2,378,969 shares of the company’s stock, valued at $19,507,545.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Rallybio Stock Performance
Shares of NASDAQ RLYB opened at $5.27 on Friday. The business’s 50 day moving average price is $6.91 and its 200-day moving average price is $8.26. Rallybio Co. has a fifty-two week low of $4.54 and a fifty-two week high of $15.89. The company has a market cap of $200.68 million, a price-to-earnings ratio of -2.50 and a beta of -1.95.
Rallybio (NASDAQ:RLYB – Get Rating) last issued its quarterly earnings results on Monday, March 6th. The company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.14. Sell-side analysts predict that Rallybio Co. will post -2.54 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Institutional Investors Weigh In On Rallybio
Hedge funds and other institutional investors have recently modified their holdings of the business. UBS Group AG increased its holdings in Rallybio by 463.6% during the 4th quarter. UBS Group AG now owns 4,892 shares of the company’s stock worth $32,000 after purchasing an additional 4,024 shares during the period. Barclays PLC increased its holdings in Rallybio by 631.7% during the 4th quarter. Barclays PLC now owns 4,946 shares of the company’s stock worth $33,000 after purchasing an additional 4,270 shares during the period. California State Teachers Retirement System increased its holdings in Rallybio by 124.8% during the 1st quarter. California State Teachers Retirement System now owns 7,694 shares of the company’s stock worth $54,000 after purchasing an additional 4,272 shares during the period. American International Group Inc. increased its holdings in Rallybio by 134.9% during the 1st quarter. American International Group Inc. now owns 8,984 shares of the company’s stock worth $63,000 after purchasing an additional 5,160 shares during the period. Finally, MetLife Investment Management LLC purchased a new position in Rallybio during the 3rd quarter worth $149,000. 91.97% of the stock is currently owned by hedge funds and other institutional investors.
Rallybio Company Profile
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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