Rallybio Stock to Reverse Split on Monday, November 23rd (NASDAQ:RLYB)

Rallybio Corporation (NASDAQ:RLYB) shares are set to reverse split before the market opens on Monday, November 23rd. 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 Performance

Shares of RLYB traded down $0.17 during mid-day trading on Thursday, reaching $15.63. The company had a trading volume of 12,913 shares, compared to its average volume of 119,197. The firm has a 50-day moving average price of $16.57 and a 200 day moving average price of $13.28. Rallybio has a 52 week low of $3.67 and a 52 week high of $17.57. The company has a market capitalization of $84.15 million, a price-to-earnings ratio of -4.26 and a beta of -0.73.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings results on Tuesday, October 27th. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates 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 Dividend Announcement

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

Analysts Set New Price Targets

RLYB has been the topic of a number of analyst reports. Weiss Ratings cut Rallybio from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 30th. Wall Street Zen raised Rallybio from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Rallybio

Institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp bought a new position in Rallybio during the second quarter valued at approximately $208,000. Citadel Advisors LLC bought a new position in Rallybio during the second quarter valued at approximately $1,155,000. ADAR1 Capital Management LLC lifted its position in Rallybio by 4,411.1% during the second quarter. ADAR1 Capital Management LLC now owns 926,352 shares of the company’s stock valued at $14,822,000 after purchasing an additional 905,817 shares during the period. Finally, BlackRock Inc. lifted its position in Rallybio by 73.5% during the second 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. Institutional investors 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.