SG Americas Securities LLC Makes New Investment in Rallybio Co. (NASDAQ:RLYB)

SG Americas Securities LLC purchased a new stake in shares of Rallybio Co. (NASDAQ:RLYB) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 16,813 shares of the company’s stock, valued at approximately $40,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Royal Bank of Canada lifted its position in Rallybio by 312.9% during the second quarter. Royal Bank of Canada now owns 4,348 shares of the company’s stock valued at $25,000 after purchasing an additional 3,295 shares during the last quarter. UBS Group AG raised its position in shares of Rallybio by 463.6% during the 4th quarter. UBS Group AG now owns 4,892 shares of the company’s stock valued at $32,000 after buying an additional 4,024 shares in the last quarter. Barclays PLC lifted its holdings in shares of Rallybio by 631.7% during the 4th quarter. Barclays PLC now owns 4,946 shares of the company’s stock worth $33,000 after acquiring an additional 4,270 shares during the last quarter. Citigroup Inc. purchased a new position in Rallybio in the second quarter worth $52,000. Finally, California State Teachers Retirement System grew its position in Rallybio by 124.8% in the first quarter. California State Teachers Retirement System now owns 7,694 shares of the company’s stock worth $54,000 after acquiring an additional 4,272 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RLYB shares. JMP Securities restated a “market outperform” rating and set a $8.00 price target on shares of Rallybio in a research report on Thursday. Jefferies Financial Group downgraded Rallybio from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Wedbush reduced their price target on shares of Rallybio from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, April 11th. Finally, HC Wainwright lowered their price objective on shares of Rallybio from $12.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $12.20.

Rallybio Price Performance

Shares of RLYB stock opened at $1.76 on Monday. The business has a 50-day moving average of $1.81 and a 200 day moving average of $2.32. The stock has a market capitalization of $66.55 million, a PE ratio of -0.96 and a beta of -1.64. Rallybio Co. has a 1-year low of $1.23 and a 1-year high of $9.14.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings results on Tuesday, March 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.06). Analysts anticipate that Rallybio Co. will post -1.52 EPS for the current year.

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.