Rallybio Co. (NASDAQ:RLYB) Shares Sold by Canaan Partners XI LLC

Canaan Partners XI LLC lessened its stake in shares of Rallybio Co. (NASDAQ:RLYB) by 11.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,697,684 shares of the company’s stock after selling 213,303 shares during the quarter. Rallybio accounts for 2.1% of Canaan Partners XI LLC’s investment portfolio, making the stock its 3rd biggest position. Canaan Partners XI LLC owned 4.09% of Rallybio worth $1,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in Rallybio during the 2nd quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rallybio during the second quarter worth $61,000. Almitas Capital LLC purchased a new position in shares of Rallybio in the second quarter valued at $135,000. Geode Capital Management LLC grew its holdings in Rallybio by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after purchasing an additional 24,980 shares in the last quarter. Finally, FMR LLC increased its stake in Rallybio by 1.1% during the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after buying an additional 25,422 shares during the period. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Rallybio Stock Down 3.9 %

RLYB opened at $0.88 on Friday. Rallybio Co. has a 12-month low of $0.84 and a 12-month high of $3.46. The firm’s fifty day moving average price is $0.99 and its 200 day moving average price is $1.09.

Rallybio (NASDAQ:RLYB) last issued its earnings results on Thursday, November 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. The company had revenue of $0.30 million during the quarter. As a group, research analysts predict that Rallybio Co. will post -1.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright reissued a “buy” rating and issued a $5.00 price objective on shares of Rallybio in a research report on Monday, January 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $9.75.

Rallybio Profile

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.