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

Rallybio Corporation (NASDAQ:RLYB) shares are going to reverse split 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

RLYB stock opened at $0.64 on Monday. The business has a fifty day moving average price of $0.69 and a 200 day moving average price of $0.61. Rallybio has a fifty-two week low of $0.22 and a fifty-two week high of $0.95. The stock has a market capitalization of $27.12 million, a price-to-earnings ratio of -2.01 and a beta of -1.05.

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

Wall Street Analysts Forecast Growth

Several analysts have commented on RLYB shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Rallybio in a research report on Monday, December 29th. Wall Street Zen downgraded Rallybio from a “hold” rating to a “sell” rating in a report on Sunday, October 12th. Four investment 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 currently has an average rating of “Reduce” and a consensus price target of $5.00.

Institutional Investors Weigh In On Rallybio

A hedge fund recently raised its stake in Rallybio stock. Citadel Advisors LLC raised its holdings in Rallybio Corporation (NASDAQ:RLYB) by 576.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 438,705 shares of the company’s stock after buying an additional 373,821 shares during the period. Citadel Advisors LLC owned 1.04% of Rallybio worth $219,000 at the end of the most recent reporting period. Institutional investors own 90.34% of the company’s stock.

Rallybio Company Profile

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.