Rallybio Co. (NASDAQ:RLYB) Given Average Rating of “Moderate Buy” by Brokerages

Rallybio Co. (NASDAQ:RLYB) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $12.20.

Several research firms have recently weighed in on RLYB. HC Wainwright lowered their target price on shares of Rallybio from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $8.00 target price on shares of Rallybio in a research note on Thursday, April 18th. Wedbush reduced their target price on shares of Rallybio from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, April 11th. Finally, Jefferies Financial Group lowered shares of Rallybio from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th.

Rallybio Trading Up 3.0 %

Shares of Rallybio stock opened at $1.70 on Monday. The stock has a market capitalization of $64.28 million, a price-to-earnings ratio of -0.92 and a beta of -1.64. Rallybio has a 1-year low of $1.23 and a 1-year high of $9.14. The firm has a fifty day simple moving average of $1.80 and a 200-day simple moving average of $2.27.

Rallybio (NASDAQ:RLYB) last released its earnings results on Tuesday, March 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.06). As a group, research analysts predict that Rallybio will post -1.6 earnings per share for the current year.

Institutional Trading of Rallybio

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Rallybio in the 4th quarter valued at approximately $40,000. Financial Security Advisor Inc. acquired a new stake in Rallybio during the 3rd quarter worth approximately $169,000. Finally, abrdn plc acquired a new stake in Rallybio during the 4th quarter worth approximately $4,128,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.