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

Rallybio Co. (NASDAQ:RLYB) has earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $9.75.

A number of analysts have recently issued reports on the stock. Evercore ISI reissued an “outperform” rating and issued a $15.00 price objective on shares of Rallybio in a research note on Monday, August 26th. HC Wainwright cut their price target on Rallybio from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, November 8th.

Hedge Funds Weigh In On Rallybio

Institutional investors have recently bought and sold shares of the stock. Johnson & Johnson purchased a new stake in Rallybio in the 2nd quarter worth $4,873,000. Vanguard Group Inc. increased its holdings in shares of Rallybio by 1.2% in 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. Almitas Capital LLC purchased a new stake in shares of Rallybio in the second quarter worth about $135,000. Acadian Asset Management LLC boosted its stake in Rallybio by 116.3% during the second quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock valued at $89,000 after buying an additional 36,401 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Rallybio during the 2nd quarter valued at approximately $61,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

Rallybio Trading Up 5.7 %

Rallybio stock opened at $1.11 on Friday. Rallybio has a 12-month low of $0.96 and a 12-month high of $3.46. The firm has a market capitalization of $46.05 million, a price-to-earnings ratio of -0.66 and a beta of -1.67. The firm has a 50 day moving average of $1.08 and a 200 day moving average of $1.32.

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.