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

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

RLYB has been the subject of a number of research reports. HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of Rallybio in a research report on Friday, November 22nd. Evercore ISI reissued an “outperform” rating and issued a $15.00 price target on shares of Rallybio in a research report on Monday, August 26th.

Rallybio Stock Down 3.4 %

Shares of NASDAQ RLYB opened at $1.13 on Tuesday. Rallybio has a 12 month low of $0.95 and a 12 month high of $3.46. The company has a market cap of $46.88 million, a price-to-earnings ratio of -0.71 and a beta of -1.67. The business has a fifty day simple moving average of $1.06 and a 200-day simple moving average of $1.24.

Institutional Investors Weigh In On Rallybio

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its holdings in shares of Rallybio by 11.4% during the third quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock worth $287,000 after buying an additional 24,980 shares in the last quarter. FMR LLC grew its position in Rallybio by 1.1% during the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after acquiring an additional 25,422 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Rallybio during the 2nd quarter valued at $61,000. Almitas Capital LLC bought a new position in Rallybio in the 2nd quarter valued at $135,000. Finally, Hsbc Holdings PLC acquired a new position in Rallybio in the second quarter worth $25,000. 90.34% of the stock is currently 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.