Geode Capital Management LLC Has $287,000 Holdings in Rallybio Co. (NASDAQ:RLYB)

Geode Capital Management LLC boosted its stake in shares of Rallybio Co. (NASDAQ:RLYB) by 11.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 244,986 shares of the company’s stock after buying an additional 24,980 shares during the period. Geode Capital Management LLC owned about 0.59% of Rallybio worth $287,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Johnson & Johnson acquired a new stake in Rallybio during the 2nd quarter worth about $4,873,000. FMR LLC raised its holdings in Rallybio by 1.1% during the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after buying an additional 25,422 shares during the period. Almitas Capital LLC acquired a new stake in Rallybio during the 2nd quarter worth about $135,000. Acadian Asset Management LLC increased its holdings in shares of Rallybio by 116.3% in the 2nd 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 period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rallybio in the 2nd quarter valued at about $61,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Analyst Ratings Changes

Separately, HC Wainwright reiterated a “buy” rating and issued a $5.00 target price on shares of Rallybio in a report on Monday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $9.75.

Rallybio Price Performance

Shares of RLYB opened at $0.92 on Tuesday. The company has a market capitalization of $38.27 million, a price-to-earnings ratio of -0.58 and a beta of -1.48. Rallybio Co. has a fifty-two week low of $0.84 and a fifty-two week high of $3.46. The business’s 50-day moving average is $1.02 and its 200-day moving average is $1.12.

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.