Brokerages Set Rallybio Co. (NASDAQ:RLYB) PT at $10.00

Rallybio Co. (NASDAQ:RLYB) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $10.00.

Several equities research analysts have recently weighed in on RLYB shares. Evercore ISI reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Rallybio in a research report on Monday, August 26th. HC Wainwright reissued a “buy” rating and issued a $6.00 price objective on shares of Rallybio in a research report on Tuesday, October 1st.

Rallybio Price Performance

Shares of RLYB opened at $1.10 on Monday. Rallybio has a 52-week low of $1.08 and a 52-week high of $4.60. The company has a market cap of $45.39 million, a PE ratio of -0.58 and a beta of -1.70. The business has a fifty day moving average of $1.12 and a 200 day moving average of $1.42.

Rallybio (NASDAQ:RLYB) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. The firm had revenue of $0.30 million during the quarter. As a group, research analysts anticipate that Rallybio will post -1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rallybio

Hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new position in Rallybio in the second quarter valued at approximately $25,000. Acadian Asset Management LLC purchased a new stake in Rallybio during the first quarter worth $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Rallybio during the second quarter valued at $61,000. Almitas Capital LLC purchased a new position in Rallybio in the second quarter valued at $135,000. Finally, Vanguard Group Inc. raised its position 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 acquiring an additional 12,801 shares during the period. 90.34% of the stock is owned by hedge funds and other institutional investors.

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.