Rallybio (NASDAQ:RLYB) Issues Quarterly Earnings Results

Rallybio (NASDAQ:RLYB) posted its quarterly earnings data on Tuesday. The company reported ($0.48) EPS for the quarter, FiscalAI reports. Rallybio had a negative net margin of 911.07% and a negative return on equity of 40.53%.

Rallybio Trading Down 0.7%

NASDAQ RLYB opened at $16.52 on Tuesday. The firm has a market capitalization of $87.75 million, a P/E ratio of -3.81 and a beta of -0.72. The firm’s fifty day moving average price is $16.82 and its two-hundred day moving average price is $12.67. Rallybio has a 1 year low of $3.67 and a 1 year high of $17.57.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. State Street Corp acquired a new stake in Rallybio in the 2nd quarter valued at about $208,000. BlackRock Inc. raised its stake in Rallybio by 73.5% in the second quarter. BlackRock Inc. now owns 30,332 shares of the company’s stock valued at $485,000 after buying an additional 12,846 shares during the period. Citadel Advisors LLC bought a new stake in Rallybio in the second quarter valued at approximately $1,155,000. Finally, ADAR1 Capital Management LLC boosted its stake in shares of 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. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on RLYB shares. Weiss Ratings upgraded Rallybio from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, October 6th. Wall Street Zen upgraded Rallybio from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, Rallybio has an average rating of “Hold”.

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.