Brokerages Set Rallybio Co. (NASDAQ:RLYB) PT at $9.75

Shares of Rallybio Co. (NASDAQ:RLYB) have received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $9.75.

Separately, HC Wainwright reissued a “buy” rating and issued a $5.00 price target on shares of Rallybio in a research note on Tuesday, December 3rd.

Institutional Investors Weigh In On Rallybio

Several institutional investors and hedge funds have recently added to or reduced their stakes in RLYB. Acadian Asset Management LLC increased its position 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 acquiring an additional 36,401 shares during the last quarter. Johnson & Johnson acquired a new position in Rallybio during the second quarter worth $4,873,000. Hsbc Holdings PLC bought a new position in shares of Rallybio in the 2nd quarter valued at about $25,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rallybio during the 2nd quarter worth about $61,000. Finally, Almitas Capital LLC bought a new stake in shares of Rallybio in the 2nd quarter valued at about $135,000. 90.34% of the stock is owned by institutional investors.

Rallybio Stock Up 1.7 %

Shares of NASDAQ:RLYB opened at $0.93 on Friday. The firm has a market cap of $38.54 million, a price-to-earnings ratio of -0.58 and a beta of -1.55. Rallybio has a 12 month low of $0.84 and a 12 month high of $3.46. The company’s fifty day simple moving average is $1.03 and its 200 day simple moving average is $1.16.

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.