Alps Advisors Inc. Makes New $144,000 Investment in Rallybio Co. (NASDAQ:RLYB)

Alps Advisors Inc. bought a new position in Rallybio Co. (NASDAQ:RLYBGet Rating) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 19,060 shares of the company’s stock, valued at approximately $144,000. Alps Advisors Inc. owned approximately 0.06% of Rallybio at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Novo Holdings A S bought a new position in Rallybio in the 1st quarter worth about $3,043,000. State Street Corp grew its stake in Rallybio by 114.8% in the 1st quarter. State Street Corp now owns 158,573 shares of the company’s stock worth $1,107,000 after acquiring an additional 84,748 shares in the last quarter. Northern Trust Corp grew its stake in Rallybio by 113.5% in the 1st quarter. Northern Trust Corp now owns 131,432 shares of the company’s stock worth $917,000 after acquiring an additional 69,861 shares in the last quarter. Walleye Capital LLC bought a new position in Rallybio in the 1st quarter worth about $416,000. Finally, Renaissance Technologies LLC bought a new position in Rallybio in the 1st quarter worth about $368,000. 97.75% of the stock is currently owned by institutional investors.

Rallybio Stock Performance

NASDAQ RLYB opened at $5.79 on Thursday. The firm’s 50 day moving average price is $9.79 and its 200-day moving average price is $9.96. Rallybio Co. has a 52-week low of $4.86 and a 52-week high of $15.89. The company has a market cap of $185.45 million, a PE ratio of -2.80 and a beta of -1.79.

Wall Street Analyst Weigh In

Separately, JMP Securities upped their target price on shares of Rallybio from $29.00 to $34.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 9th.

About Rallybio

(Get Rating)

Rallybio Corporation, a clinical-stage biotechnology company, engages in discovering, developing, manufacturing, and delivering therapies that enhance the lives of patients suffering from severe and rare diseases. Its lead product candidate is RLYB212, a monoclonal anti-HPA-1a antibody that is in Phase I clinical trial for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT).

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Institutional Ownership by Quarter for Rallybio (NASDAQ:RLYB)

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