Rallybio Co. (NASDAQ:RLYB) Receives $10.00 Average PT from Analysts

Rallybio Co. (NASDAQ:RLYB) has been assigned a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $10.00.

RLYB has been the topic of a number of recent research reports. Evercore ISI restated an “outperform” rating and issued a $15.00 price objective on shares of Rallybio in a research note on Monday, August 26th. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Rallybio in a research note on Tuesday, September 3rd.

Institutional Trading of Rallybio

A number of institutional investors have recently added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Rallybio during the second quarter worth about $61,000. Almitas Capital LLC purchased a new stake in Rallybio during the second quarter worth about $135,000. Hsbc Holdings PLC purchased a new stake in shares of Rallybio in the second quarter valued at about $25,000. Johnson & Johnson purchased a new stake in shares of Rallybio in the second quarter valued at about $4,873,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Rallybio by 116.3% in the second quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock valued at $89,000 after purchasing an additional 36,401 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Rallybio Price Performance

Shares of RLYB opened at $1.10 on Thursday. Rallybio has a 1-year low of $1.08 and a 1-year high of $5.00. The stock has a market cap of $45.59 million, a PE ratio of -0.59 and a beta of -1.71. The firm has a fifty day moving average price of $1.19 and a 200 day moving average price of $1.49.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. The company had revenue of $0.30 million during the quarter. As a group, equities analysts expect that Rallybio will post -1.45 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.