Rallybio (NASDAQ:RLYB) Shares to Reverse Split on Friday, February 6th

Rallybio Corporation (NASDAQ:RLYB)’s stock is set to reverse split before the market opens on Friday, February 6th. The 1-8 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, February 5th.

Rallybio Price Performance

Rallybio stock opened at $0.64 on Monday. The stock has a market capitalization of $27.12 million, a PE ratio of -2.01 and a beta of -1.05. Rallybio has a 12 month low of $0.22 and a 12 month high of $0.95. The business has a 50 day simple moving average of $0.69 and a 200-day simple moving average of $0.61.

Rallybio (NASDAQ:RLYB) last announced its earnings results on Thursday, November 6th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.11. Rallybio had a negative net margin of 2,102.37% and a negative return on equity of 65.23%. The business had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.07 million. On average, equities research analysts anticipate that Rallybio will post -1.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RLYB has been the subject of a number of analyst reports. Wall Street Zen lowered Rallybio from a “hold” rating to a “sell” rating in a research report on Sunday, October 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rallybio in a research report on Monday, December 29th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $5.00.

Institutional Investors Weigh In On Rallybio

An institutional investor recently raised its position in Rallybio stock. Susquehanna International Group LLP boosted its holdings in shares of Rallybio Corporation (NASDAQ:RLYB) by 485.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,294 shares of the company’s stock after buying an additional 113,031 shares during the quarter. Susquehanna International Group LLP owned 0.32% of Rallybio worth $68,000 as of its most recent SEC filing. Institutional investors own 90.34% of the company’s stock.

About Rallybio

Rallybio Therapeutics, Inc (NASDAQ: RLYB) is a clinical?stage biotechnology company focused on developing and commercializing therapies for people living with rare genetic diseases. The company’s scientific approach leverages diverse modalities—including monoclonal antibodies, small molecules and enzyme replacement—to address high?unmet?need conditions in areas such as immunodeficiency, metabolic disorders and dermatologic diseases. Rallybio’s pipeline is designed to advance through registrational clinical trials with the goal of delivering first?in?class or best?in?class therapies to patients who currently have limited or no approved treatment options.

Among Rallybio’s lead programs is RBX?100, an investigational therapy for congenital athymia, a rare pediatric immunodeficiency.