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

Johnson & Johnson acquired a new stake in Rallybio Co. (NASDAQ:RLYBFree Report) 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:RLYBGet Free Report) 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.

View Our Latest Analysis on RLYB

About Rallybio

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Rallybio (NASDAQ:RLYB)

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