Acadian Asset Management LLC Boosts Stock Position in Rallybio Co. (NASDAQ:RLYB)

Acadian Asset Management LLC increased its stake in shares of Rallybio Co. (NASDAQ:RLYB) by 116.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,695 shares of the company’s stock after buying an additional 36,401 shares during the quarter. Acadian Asset Management LLC owned about 0.16% of Rallybio worth $89,000 at the end of the most recent reporting period.

Separately, Vanguard Group Inc. boosted its position in shares of Rallybio by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock valued at $1,992,000 after acquiring an additional 12,801 shares during the last quarter. 90.34% of the stock is owned by institutional investors.

Rallybio Price Performance

Shares of RLYB stock opened at $1.10 on Friday. Rallybio Co. has a 1-year low of $1.08 and a 1-year high of $5.00. The firm has a market cap of $45.59 million, a PE ratio of -0.59 and a beta of -1.71. The company has a 50-day moving average of $1.19 and a two-hundred day moving average of $1.49.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RLYB. HC Wainwright restated a “buy” rating and set a $6.00 price objective on shares of Rallybio in a research report on Tuesday, September 3rd. Evercore ISI restated an “outperform” rating and set a $15.00 price target 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 issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $10.00.

Rallybio 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.