Point72 Asia Singapore Pte. Ltd. Invests $61,000 in Rallybio Co. (NASDAQ:RLYB)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Rallybio Co. (NASDAQ:RLYB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 45,531 shares of the company’s stock, valued at approximately $61,000. Point72 Asia Singapore Pte. Ltd. owned about 0.11% of Rallybio at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hsbc Holdings PLC purchased a new position in shares of Rallybio during the 2nd quarter valued at $25,000. Acadian Asset Management LLC bought a new stake in Rallybio in the 1st quarter valued at about $57,000. Vanguard Group Inc. lifted its holdings in Rallybio by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock valued at $1,992,000 after purchasing an additional 12,801 shares during the last quarter. Finally, Johnson & Johnson bought a new position in Rallybio during the second quarter worth about $4,873,000. 90.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. HC Wainwright reissued a “buy” rating and issued a $6.00 price target on shares of Rallybio in a research report on Tuesday, September 3rd. Evercore ISI reissued an “outperform” rating and set a $15.00 target price on shares of Rallybio in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.00.

Rallybio Trading Down 0.5 %

Shares of Rallybio stock opened at $1.11 on Monday. The company’s 50-day moving average price is $1.17 and its 200-day moving average price is $1.46. The company has a market cap of $45.80 million, a price-to-earnings ratio of -0.59 and a beta of -1.71. Rallybio Co. has a 12-month low of $1.08 and a 12-month high of $4.60.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.05. The firm had revenue of $0.30 million during the quarter. On average, sell-side analysts predict that Rallybio Co. will post -1.45 earnings per share for the current year.

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.