Northeast Financial Consultants Inc Grows Position in Rallybio Co. (NASDAQ:RLYB)

Northeast Financial Consultants Inc boosted its stake in Rallybio Co. (NASDAQ:RLYB) by 336.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 96,422 shares of the company’s stock after buying an additional 74,334 shares during the quarter. Northeast Financial Consultants Inc’s holdings in Rallybio were worth $93,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Allostery Investments LP purchased a new stake in Rallybio in the 4th quarter valued at $771,000. Almitas Capital LLC increased its position in shares of Rallybio by 48.3% during the 4th quarter. Almitas Capital LLC now owns 1,298,119 shares of the company’s stock valued at $1,246,000 after purchasing an additional 422,685 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Rallybio by 9.3% during the 4th quarter. Renaissance Technologies LLC now owns 441,318 shares of the company’s stock valued at $424,000 after purchasing an additional 37,618 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Rallybio Stock Performance

Shares of RLYB opened at $0.31 on Thursday. The business has a 50-day moving average of $0.43 and a 200 day moving average of $0.76. Rallybio Co. has a fifty-two week low of $0.22 and a fifty-two week high of $2.00. The firm has a market cap of $12.88 million, a P/E ratio of -0.19 and a beta of -1.28.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.21) earnings per share for the quarter, hitting the consensus estimate of ($0.21). The firm had revenue of $0.21 million during the quarter. As a group, research analysts predict that Rallybio Co. will post -1.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RLYB shares. HC Wainwright reaffirmed a “neutral” rating on shares of Rallybio in a research report on Wednesday, April 9th. Jones Trading reaffirmed a “hold” rating on shares of Rallybio in a research report on Tuesday, April 15th. Citizens Jmp downgraded Rallybio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 8th. Finally, Evercore ISI downgraded Rallybio from a “strong-buy” rating to a “hold” rating in a research note on Sunday, April 13th. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Rallybio has an average rating of “Hold” and a consensus price target of $10.00.

About Rallybio

Rallybio Corporation, a clinical-stage biotechnology company, engages in development and commercialization of life-transforming therapies for patients suffering from severe and rare diseases. Its lead product candidate is RLYB212, a monoclonal anti-HPA-1a antibody that has completed Phase I clinical trial for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT); and RLYB211 for the prevention of FNAIT.