Alps Advisors Inc. Makes New Investment in Rallybio Co. (NASDAQ:RLYB)

Alps Advisors Inc. purchased a new position in Rallybio Co. (NASDAQ:RLYBGet Rating) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,060 shares of the company’s stock, valued at approximately $144,000. Alps Advisors Inc. owned approximately 0.06% of Rallybio as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its stake in Rallybio by 17.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 15,289 shares of the company’s stock worth $107,000 after purchasing an additional 2,224 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Rallybio by 124.8% during the 1st quarter. California State Teachers Retirement System now owns 7,694 shares of the company’s stock valued at $54,000 after buying an additional 4,272 shares in the last quarter. American International Group Inc. raised its position in shares of Rallybio by 134.9% during the 1st quarter. American International Group Inc. now owns 8,984 shares of the company’s stock valued at $63,000 after buying an additional 5,160 shares in the last quarter. Rhumbline Advisers purchased a new stake in shares of Rallybio during the 1st quarter valued at about $91,000. Finally, Bank of New York Mellon Corp raised its position in shares of Rallybio by 145.6% during the 1st quarter. Bank of New York Mellon Corp now owns 41,688 shares of the company’s stock valued at $291,000 after buying an additional 24,711 shares in the last quarter. Hedge funds and other institutional investors own 97.75% of the company’s stock.

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 company a “market outperform” rating in a research report on Tuesday, August 9th.

Rallybio Trading Down 3.0 %

Shares of 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. The stock has a market capitalization of $185.45 million, a price-to-earnings ratio of -2.80 and a beta of -1.79. Rallybio Co. has a 12-month low of $4.86 and a 12-month high of $15.89.

About Rallybio

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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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