Canaan Partners XI LLC Sells 213,303 Shares of Rallybio Co. (NASDAQ:RLYB)

Canaan Partners XI LLC cut its holdings in Rallybio Co. (NASDAQ:RLYB) by 11.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,697,684 shares of the company’s stock after selling 213,303 shares during the period. Rallybio comprises approximately 2.1% of Canaan Partners XI LLC’s holdings, making the stock its 3rd biggest position. Canaan Partners XI LLC’s holdings in Rallybio were worth $1,630,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Hsbc Holdings PLC acquired a new position in Rallybio in the second quarter valued at approximately $25,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Rallybio in the 2nd quarter worth approximately $61,000. Almitas Capital LLC acquired a new position in Rallybio during the 2nd quarter valued at approximately $135,000. FMR LLC grew 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 last quarter. Finally, Geode Capital Management LLC increased its position in Rallybio by 11.4% in the third quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock worth $287,000 after buying an additional 24,980 shares during the period. Institutional investors own 90.34% of the company’s stock.

Wall Street Analyst Weigh In

Separately, HC Wainwright restated a “buy” rating and set a $5.00 price target on shares of Rallybio in a research report on Monday, January 13th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.75.

Rallybio Price Performance

Shares of RLYB opened at $0.88 on Friday. Rallybio Co. has a one year low of $0.84 and a one year high of $3.46. The stock’s fifty day moving average is $0.99 and its 200-day moving average is $1.09.

Rallybio (NASDAQ:RLYB) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.10. The company had revenue of $0.30 million for the quarter. Research analysts anticipate that Rallybio Co. will post -1.34 earnings per share for the current fiscal year.

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.