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

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rallybio Co. (NASDAQ:RLYB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,531 shares of the company’s stock, valued at approximately $61,000.

Several other large investors have also recently bought and sold shares of the stock. Almitas Capital LLC acquired a new position in Rallybio during the second quarter valued at approximately $135,000. Hsbc Holdings PLC acquired a new position in Rallybio during the second quarter valued at approximately $25,000. Johnson & Johnson acquired a new position in Rallybio during the second quarter valued at approximately $4,873,000. 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 valued at $89,000 after purchasing an additional 36,401 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position 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. 90.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RLYB has been the subject of several recent research reports. HC Wainwright reissued a “buy” rating and set a $6.00 price target on shares of Rallybio in a research report on Tuesday, October 1st. Evercore ISI reissued an “outperform” rating and set a $15.00 price target on shares of Rallybio in a research report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.00.

Rallybio Stock Up 0.9 %

NASDAQ:RLYB opened at $1.11 on Friday. The stock’s 50 day moving average price is $1.15 and its two-hundred day moving average price is $1.45. The firm has a market capitalization of $46.05 million, a price-to-earnings ratio of -0.59 and a beta of -1.70. Rallybio Co. has a 12-month low of $1.08 and a 12-month high of $4.60.

Rallybio (NASDAQ:RLYB) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.05. The business had revenue of $0.30 million during the quarter. Equities research analysts expect that Rallybio Co. will post -1.45 EPS for the current year.

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.