Johnson & Johnson Invests $4.87 Million in Rallybio Co. (NASDAQ:RLYB)

Johnson & Johnson acquired a new stake in Rallybio Co. (NASDAQ:RLYB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,636,363 shares of the company’s stock, valued at approximately $4,873,000. Rallybio comprises approximately 1.2% of Johnson & Johnson’s holdings, making the stock its 13th biggest position. Johnson & Johnson owned approximately 0.09% of Rallybio at the end of the most recent quarter.

Separately, Vanguard Group Inc. lifted its stake in Rallybio by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after purchasing an additional 12,801 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

Rallybio Trading Up 2.7 %

Shares of NASDAQ:RLYB opened at $1.13 on Monday. The firm’s 50 day moving average is $1.22 and its two-hundred day moving average is $1.52. The firm has a market capitalization of $46.88 million, a P/E ratio of -0.60 and a beta of -1.71. Rallybio Co. has a 52 week low of $1.08 and a 52 week high of $5.77.

Rallybio (NASDAQ:RLYB) last posted its earnings results on Thursday, August 8th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.05. The business had revenue of $0.30 million during the quarter. Analysts predict that Rallybio Co. will post -1.45 EPS for the current year.

Wall Street Analysts Forecast Growth

RLYB has been the topic of several research reports. HC Wainwright reiterated a “buy” rating and set a $6.00 price objective on shares of Rallybio in a research note on Tuesday, September 3rd. Evercore ISI restated an “outperform” rating and set a $15.00 price objective on shares of Rallybio in a research note on Monday, August 26th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” 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.