Geode Capital Management LLC Purchases 24,980 Shares of Rallybio Co. (NASDAQ:RLYB)

Geode Capital Management LLC lifted its position in Rallybio Co. (NASDAQ:RLYB) by 11.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 244,986 shares of the company’s stock after buying an additional 24,980 shares during the quarter. Geode Capital Management LLC’s holdings in Rallybio were worth $287,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Hsbc Holdings PLC bought a new stake in shares of Rallybio in the 2nd quarter valued at approximately $25,000. FMR LLC boosted its position in Rallybio by 1.1% during the third quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after purchasing an additional 25,422 shares during the period. Acadian Asset Management LLC boosted its position in Rallybio by 116.3% during the second quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock worth $89,000 after purchasing an additional 36,401 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in Rallybio during the second quarter worth approximately $61,000. Finally, Almitas Capital LLC bought a new stake in Rallybio during the second quarter worth approximately $135,000. Institutional investors own 90.34% of the company’s stock.

Rallybio Stock Down 1.9 %

Shares of Rallybio stock opened at $0.92 on Tuesday. Rallybio Co. has a 12-month low of $0.84 and a 12-month high of $3.46. The stock has a market capitalization of $38.27 million, a P/E ratio of -0.58 and a beta of -1.48. The stock has a 50 day moving average price of $1.02 and a two-hundred day moving average price of $1.12.

Analyst Ratings Changes

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of Rallybio in a research report on Monday. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Rallybio presently has an average rating of “Moderate Buy” and an average target price of $9.75.

About Rallybio

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.