Renaissance Technologies LLC Sells 147,400 Shares of Rallybio Co. (NASDAQ:RLYB)

Renaissance Technologies LLC lessened its holdings in Rallybio Co. (NASDAQ:RLYB) by 30.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 340,700 shares of the company’s stock after selling 147,400 shares during the quarter. Renaissance Technologies LLC owned 0.82% of Rallybio worth $457,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Rallybio by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after buying an additional 12,801 shares during the period. Acadian Asset Management LLC acquired a new stake in Rallybio in the first quarter valued at $57,000. Finally, Johnson & Johnson bought a new position in Rallybio during the 2nd quarter worth $4,873,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Rallybio Stock Down 0.9 %

NASDAQ RLYB opened at $1.11 on Friday. Rallybio Co. has a 52 week low of $1.08 and a 52 week high of $4.60. The business has a 50 day moving average price of $1.13 and a 200-day moving average price of $1.43. The company has a market cap of $46.05 million, a price-to-earnings ratio of -0.59 and a beta of -1.70.

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

Analysts Set New Price Targets

A number of analysts have weighed in on RLYB shares. Evercore ISI reissued an “outperform” rating and set a $15.00 target price on shares of Rallybio in a research report on Monday, August 26th. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Rallybio in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Rallybio has an average rating of “Moderate Buy” and a consensus target price of $10.00.

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.