Alps Advisors Inc. Makes New $144,000 Investment in Rallybio Co. (NASDAQ:RLYB)

Alps Advisors Inc. purchased a new position in Rallybio Co. (NASDAQ:RLYBGet Rating) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 19,060 shares of the company’s stock, valued at approximately $144,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Novo Holdings A S purchased a new position in shares of Rallybio in the first quarter worth $3,043,000. State Street Corp raised its holdings in shares of Rallybio by 114.8% in the first quarter. State Street Corp now owns 158,573 shares of the company’s stock worth $1,107,000 after buying an additional 84,748 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Rallybio by 113.5% during the first quarter. Northern Trust Corp now owns 131,432 shares of the company’s stock worth $917,000 after purchasing an additional 69,861 shares during the last quarter. Walleye Capital LLC purchased a new position in shares of Rallybio during the first quarter worth $416,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Rallybio during the first quarter worth $368,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.

Rallybio Price Performance

Shares of Rallybio stock opened at $5.79 on Thursday. The firm has a fifty day moving average price of $9.79 and a 200 day moving average price of $9.96. Rallybio Co. has a 1 year low of $4.86 and a 1 year high of $15.89. The stock has a market cap of $185.45 million, a PE ratio of -2.80 and a beta of -1.79.

Wall Street Analysts Forecast Growth

Separately, JMP Securities raised their target price on shares of Rallybio from $29.00 to $34.00 and gave the stock a “market outperform” rating in a report on Tuesday, August 9th.

Rallybio Profile

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Rallybio Corporation, a clinical-stage biotechnology company, engages in discovering, developing, manufacturing, and delivering therapies that enhance the lives of patients suffering from severe and rare diseases. Its lead product candidate is RLYB212, a monoclonal anti-HPA-1a antibody that is in Phase I clinical trial for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT).

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Institutional Ownership by Quarter for Rallybio (NASDAQ:RLYB)

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