Rallybio Co. (NASDAQ:RLYB) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Rallybio Co. (NASDAQ:RLYB) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $10.00.

Several brokerages have weighed in on RLYB. JPMorgan Chase & Co. cut shares of Rallybio from an “overweight” rating to a “neutral” rating in a research note on Wednesday, May 15th. HC Wainwright dropped their target price on shares of Rallybio from $9.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, August 12th.

Rallybio Stock Up 2.7 %

Shares of Rallybio stock opened at $1.13 on Friday. Rallybio has a twelve month low of $1.09 and a twelve month high of $5.96. The company has a 50-day simple moving average of $1.29 and a two-hundred day simple moving average of $1.60. The stock has a market capitalization of $46.84 million, a price-to-earnings ratio of -0.60 and a beta of -1.69.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.05. The business had revenue of $0.30 million during the quarter. On average, sell-side analysts anticipate that Rallybio will post -1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rallybio

Several hedge funds and other institutional investors have recently made changes to their positions in RLYB. Hsbc Holdings PLC bought a new stake in shares of Rallybio during the 2nd quarter valued at approximately $25,000. Acadian Asset Management LLC bought a new stake in shares of Rallybio during the 1st quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Rallybio during the 2nd quarter valued at approximately $61,000. Almitas Capital LLC bought a new stake in shares of Rallybio during the 2nd quarter valued at approximately $135,000. Finally, Vanguard Group Inc. grew its holdings in shares of Rallybio by 1.2% during the 1st 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. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Rallybio Company Profile

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.