Rallybio (NASDAQ:RLYB) Major Shareholder Purchases $1,108,833.41 in Stock

Rallybio Corporation (NASDAQ:RLYB) major shareholder Adar1 Capital Management, Llc acquired 79,259 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average price of $13.99 per share, for a total transaction of $1,108,833.41. Following the acquisition, the insider directly owned 909,843 shares of the company’s stock, valued at approximately $12,728,703.57. The trade was a 9.54% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Adar1 Capital Management, Llc also recently made the following trade(s):

• On Friday, May 15th, Adar1 Capital Management, Llc acquired 300 shares of Rallybio stock. The shares were acquired at an average price of $13.90 per share, for a total transaction of $4,170.00.
• On Tuesday, May 12th, Adar1 Capital Management, Llc acquired 800 shares of Rallybio stock. The shares were acquired at an average price of $13.83 per share, for a total transaction of $11,064.00.
• On Monday, May 11th, Adar1 Capital Management, Llc bought 50,000 shares of Rallybio stock. The stock was purchased at an average price of $14.00 per share, for a total transaction of $700,000.00.
• On Tuesday, May 5th, Adar1 Capital Management, Llc bought 35,101 shares of Rallybio stock. The stock was purchased at an average price of $14.00 per share, for a total transaction of $491,414.00.
• On Monday, May 4th, Adar1 Capital Management, Llc bought 120,804 shares of Rallybio stock. The stock was purchased at an average price of $13.97 per share, for a total transaction of $1,687,631.88.

Rallybio Stock Performance

Rallybio stock traded up $0.09 during midday trading on Friday, reaching $14.30. The stock had a trading volume of 53,608 shares, compared to its average volume of 636,356. Rallybio Corporation has a twelve month low of $2.16 and a twelve month high of $15.31. The stock has a market capitalization of $75.79 million, a PE ratio of -5.59 and a beta of -1.10. The stock’s 50-day simple moving average is $9.84 and its 200 day simple moving average is $7.05.

Rallybio (NASDAQ:RLYB) last issued its earnings results on Wednesday, May 13th. The company reported ($1.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.26). Rallybio had a negative net margin of 911.07% and a negative return on equity of 55.79%. The firm had revenue of $0.21 million during the quarter, compared to analyst estimates of $0.21 million.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RLYB. Citadel Advisors LLC raised its position in Rallybio by 576.1% in the third quarter. Citadel Advisors LLC now owns 438,705 shares of the company’s stock valued at $219,000 after purchasing an additional 373,821 shares during the period. Susquehanna International Group LLP raised its position in Rallybio by 485.9% in the third quarter. Susquehanna International Group LLP now owns 136,294 shares of the company’s stock valued at $68,000 after purchasing an additional 113,031 shares during the period. Geode Capital Management LLC raised its position in Rallybio by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 248,005 shares of the company’s stock valued at $170,000 after purchasing an additional 2,996 shares during the period. Renaissance Technologies LLC raised its position in Rallybio by 16.9% in the fourth quarter. Renaissance Technologies LLC now owns 835,692 shares of the company’s stock valued at $573,000 after purchasing an additional 120,892 shares during the period. Finally, XTX Topco Ltd raised its position in Rallybio by 64.6% in the fourth quarter. XTX Topco Ltd now owns 97,313 shares of the company’s stock valued at $67,000 after purchasing an additional 38,205 shares during the period. 90.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RLYB has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rallybio in a report on Friday, May 8th. Wall Street Zen upgraded Rallybio to a “hold” rating in a report on Saturday, March 28th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Rallybio has a consensus rating of “Sell”.

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.