Rallybio Co. Expected to Post Q1 2024 Earnings of ($0.37) Per Share (NASDAQ:RLYB)

Rallybio Co. (NASDAQ:RLYB) – Wedbush increased their Q1 2024 earnings estimates for shares of Rallybio in a note issued to investors on Thursday, April 11th. Wedbush analyst L. Chico now forecasts that the company will earn ($0.37) per share for the quarter, up from their prior forecast of ($0.40). Wedbush currently has a “Outperform” rating and a $11.00 target price on the stock. The consensus estimate for Rallybio’s current full-year earnings is ($1.52) per share. Wedbush also issued estimates for Rallybio’s Q2 2024 earnings at ($0.30) EPS, Q3 2024 earnings at ($0.33) EPS, Q4 2024 earnings at ($0.29) EPS, FY2024 earnings at ($1.29) EPS, FY2025 earnings at ($1.25) EPS, FY2026 earnings at ($1.23) EPS, FY2027 earnings at ($1.35) EPS and FY2028 earnings at ($0.84) EPS.

A number of other research analysts also recently weighed in on the stock. Jefferies Financial Group downgraded shares of Rallybio from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. JMP Securities reissued a “market outperform” rating and set a $8.00 target price on shares of Rallybio in a research report on Wednesday, March 13th. HC Wainwright reduced their target price on shares of Rallybio from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Finally, Evercore ISI reduced their target price on shares of Rallybio from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Rallybio has an average rating of “Moderate Buy” and a consensus target price of $12.20.

Rallybio Stock Performance

NASDAQ:RLYB opened at $1.83 on Monday. The firm has a market cap of $69.19 million, a price-to-earnings ratio of -0.99 and a beta of -1.64. Rallybio has a 52 week low of $1.23 and a 52 week high of $9.14. The firm has a 50-day moving average price of $1.81 and a two-hundred day moving average price of $2.36.

Rallybio (NASDAQ:RLYB) last posted its quarterly earnings data on Tuesday, March 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.06).

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. abrdn plc bought a new position in Rallybio in the 4th quarter valued at $4,128,000. BlackRock Inc. boosted its holdings in Rallybio by 77.5% in the 2nd quarter. BlackRock Inc. now owns 1,653,859 shares of the company’s stock valued at $9,361,000 after purchasing an additional 722,364 shares during the period. Vanguard Group Inc. boosted its holdings in Rallybio by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 1,063,970 shares of the company’s stock valued at $2,543,000 after purchasing an additional 14,139 shares during the period. Laurion Capital Management LP boosted its holdings in Rallybio by 94.8% in the 4th quarter. Laurion Capital Management LP now owns 783,291 shares of the company’s stock valued at $5,146,000 after purchasing an additional 381,291 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Rallybio by 35.6% in the 2nd quarter. Geode Capital Management LLC now owns 493,371 shares of the company’s stock valued at $2,792,000 after purchasing an additional 129,611 shares during the period. 90.34% of the stock is owned by institutional investors.

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.