Insider Buying: Rallybio (NASDAQ:RLYB) Major Shareholder Buys $1,687,631.88 in Stock

Rallybio Corporation (NASDAQ:RLYB) major shareholder Adar1 Capital Management, Llc purchased 120,804 shares of Rallybio stock in a transaction that occurred on Monday, May 4th. The stock was purchased at an average price of $13.97 per share, with a total value of $1,687,631.88. Following the transaction, the insider owned 744,683 shares in the company, valued at $10,403,221.51. This represents a 19.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, May 5th, Adar1 Capital Management, Llc purchased 35,101 shares of Rallybio stock. The stock was purchased at an average price of $14.00 per share, with a total value of $491,414.00.

Rallybio Stock Performance

Shares of NASDAQ:RLYB opened at $14.38 on Friday. The company has a market cap of $76.07 million, a PE ratio of -5.62 and a beta of -1.10. Rallybio Corporation has a 52 week low of $2.16 and a 52 week high of $15.31. The firm has a 50 day simple moving average of $9.18 and a 200 day simple moving average of $6.66.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings results on Monday, March 16th. The company reported ($1.03) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.01. The business had revenue of $0.22 million during the quarter, compared to the consensus estimate of $0.10 million. Rallybio had a negative net margin of 1,046.39% and a negative return on equity of 56.93%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Rallybio to a “hold” rating in a research report on Saturday, March 28th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC increased its stake in Rallybio by 16.9% in the 4th quarter. Renaissance Technologies LLC now owns 835,692 shares of the company’s stock valued at $573,000 after buying an additional 120,892 shares during the period. Geode Capital Management LLC increased its stake in Rallybio by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 248,005 shares of the company’s stock valued at $170,000 after buying an additional 2,996 shares during the period. Citadel Advisors LLC increased its stake in Rallybio by 576.1% in the 3rd quarter. Citadel Advisors LLC now owns 438,705 shares of the company’s stock valued at $219,000 after buying an additional 373,821 shares during the period. Susquehanna International Group LLP increased its stake in Rallybio by 485.9% in the 3rd quarter. Susquehanna International Group LLP now owns 136,294 shares of the company’s stock valued at $68,000 after buying an additional 113,031 shares during the period. Finally, XTX Topco Ltd increased its stake in Rallybio by 64.6% in the 4th quarter. XTX Topco Ltd now owns 97,313 shares of the company’s stock valued at $67,000 after buying an additional 38,205 shares during the period. Institutional investors and hedge funds 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.