Rallybio (NASDAQ:RLYB) Shares Up 18.6% – Time to Buy?

Rallybio Corporation (NASDAQ:RLYB) shares shot up 18.6% on Tuesday . The company traded as high as $0.38 and last traded at $0.37. 449,629 shares were traded during trading, an increase of 262% from the average session volume of 124,225 shares. The stock had previously closed at $0.31.

Wall Street Analyst Weigh In

RLYB has been the subject of a number of recent analyst reports. Evercore ISI downgraded Rallybio from a “strong-buy” rating to a “hold” rating in a research note on Sunday, April 13th. Jones Trading reissued a “hold” rating on shares of Rallybio in a report on Tuesday, April 15th. Citizens Jmp cut shares of Rallybio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Finally, HC Wainwright restated a “neutral” rating on shares of Rallybio in a research report on Wednesday, April 9th.

Rallybio Price Performance

The company has a market cap of $15.40 million, a P/E ratio of -0.34 and a beta of -1.24. The stock’s 50-day moving average is $0.32 and its two-hundred day moving average is $0.62.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) EPS for the quarter, meeting the consensus estimate of ($0.21). Rallybio had a negative return on equity of 72.31% and a negative net margin of 5,682.19%. The business had revenue of $0.21 million for the quarter. On average, analysts predict that Rallybio Corporation will post -1.34 EPS for the current year.

Institutional Investors Weigh In On Rallybio

Several hedge funds have recently modified their holdings of the business. Northeast Financial Consultants Inc increased its position in shares of Rallybio by 336.5% in the 4th quarter. Northeast Financial Consultants Inc now owns 96,422 shares of the company’s stock valued at $93,000 after acquiring an additional 74,334 shares during the period. Renaissance Technologies LLC increased its stake in Rallybio by 9.3% during the 4th quarter. Renaissance Technologies LLC now owns 441,318 shares of the company’s stock worth $424,000 after buying an additional 37,618 shares in the last quarter. Allostery Investments LP acquired a new stake in Rallybio during the 4th quarter worth $771,000. Finally, Almitas Capital LLC raised its holdings in Rallybio by 48.3% in the 4th quarter. Almitas Capital LLC now owns 1,298,119 shares of the company’s stock valued at $1,246,000 after acquiring an additional 422,685 shares during the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Rallybio Company 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.