Rallybio (NASDAQ:RLYB) Shares to Reverse Split on Friday, November 20th

Rallybio Corporation (NASDAQ:RLYB)’s stock is set to reverse split before the market opens on Friday, November 20th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, November 19th.

Rallybio Stock Up 0.3%

RLYB stock traded up $0.04 during trading on Wednesday, hitting $15.80. The company had a trading volume of 44,475 shares, compared to its average volume of 119,688. The firm has a 50-day moving average price of $16.59 and a 200-day moving average price of $13.23. Rallybio has a 12 month low of $3.67 and a 12 month high of $17.57. The stock has a market cap of $85.00 million, a price-to-earnings ratio of -3.64 and a beta of -0.73.

Rallybio (NASDAQ:RLYB) last posted its quarterly earnings data on Tuesday, October 27th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.44) by $0.96. Rallybio had a negative return on equity of 31.44% and a negative net margin of 911.07%.

Rallybio Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, November 13th. Stockholders of record on Thursday, November 5th will be given a dividend of $13.56 per share.

Analyst Ratings Changes

Several equities analysts have recently issued reports on RLYB shares. Wall Street Zen raised Rallybio from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings lowered Rallybio from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 30th. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Trading of Rallybio

Institutional investors have recently bought and sold shares of the business. ADAR1 Capital Management LLC grew its holdings in Rallybio by 4,411.1% during the 2nd quarter. ADAR1 Capital Management LLC now owns 926,352 shares of the company’s stock worth $14,822,000 after acquiring an additional 905,817 shares during the period. Citadel Advisors LLC acquired a new position in shares of Rallybio in the 2nd quarter valued at $1,155,000. BlackRock Inc. lifted its stake in shares of Rallybio by 73.5% in the 2nd quarter. BlackRock Inc. now owns 30,332 shares of the company’s stock valued at $485,000 after purchasing an additional 12,846 shares during the period. Finally, State Street Corp acquired a new position in shares of Rallybio in the 2nd quarter valued at $208,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Rallybio Company Profile

Rallybio Corporation is a clinical-stage biotechnology company focused on developing medicines for patients with rare diseases, with an emphasis on conditions that affect maternal and fetal health, as well as other serious disorders with limited treatment options. The company is headquartered in New Haven, Connecticut, and its programs are intended for specialized patient populations in the United States and international markets. Rallybio’s lead program, RLYB212, is being developed to prevent fetal and neonatal alloimmune thrombocytopenia, a rare condition in which maternal antibodies attack fetal platelets during pregnancy.