Brokerages Set Rallybio Co. (NASDAQ:RLYB) PT at $12.20

Rallybio Co. (NASDAQ:RLYB) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $12.20.

Several research firms recently weighed in on RLYB. Wedbush cut their price objective on Rallybio from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, April 11th. HC Wainwright reissued a “buy” rating and issued a $9.00 price objective on shares of Rallybio in a research report on Friday, May 10th. JPMorgan Chase & Co. lowered Rallybio from an “overweight” rating to a “neutral” rating in a research report on Wednesday, May 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $8.00 target price on shares of Rallybio in a research report on Thursday, April 18th. Finally, Jefferies Financial Group lowered Rallybio from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th.

Hedge Funds Weigh In On Rallybio

Hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in shares of Rallybio in the 4th quarter worth approximately $40,000. Acadian Asset Management LLC purchased a new position in shares of Rallybio in the 1st quarter worth approximately $57,000. Financial Security Advisor Inc. purchased a new position in Rallybio in the third quarter valued at approximately $169,000. Vanguard Group Inc. lifted its stake in Rallybio by 1.2% in the first quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock valued at $1,992,000 after purchasing an additional 12,801 shares during the last quarter. Finally, abrdn plc purchased a new position in Rallybio in the fourth quarter valued at approximately $4,128,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Rallybio Stock Performance

Shares of RLYB stock opened at $1.61 on Friday. Rallybio has a fifty-two week low of $1.23 and a fifty-two week high of $9.14. The company has a market cap of $66.73 million, a PE ratio of -0.86 and a beta of -1.63. The stock’s fifty day moving average price is $1.76 and its two-hundred day moving average price is $2.01.

Rallybio (NASDAQ:RLYB) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.03. On average, equities analysts predict that Rallybio will post -1.42 EPS 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.