Rallybio (NASDAQ:RLYB) Stock Price Up 5.1% – Time to Buy?

Rallybio Corporation (NASDAQ:RLYB)’s stock price rose 5.1% during mid-day trading on Monday . The company traded as high as $0.7799 and last traded at $0.7693. Approximately 173,094 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 170,709 shares. The stock had previously closed at $0.7320.

Analysts Set New Price Targets

A number of research analysts have commented on RLYB shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rallybio in a research note on Monday. Wall Street Zen cut shares of Rallybio from a “hold” rating to a “sell” rating in a research report on Sunday, October 12th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Rallybio has a consensus rating of “Reduce” and a consensus price target of $5.00.

Rallybio Stock Performance

The firm has a market cap of $30.32 million, a P/E ratio of -2.24 and a beta of -1.05. The firm has a fifty day moving average of $0.64 and a 200-day moving average of $0.54.

Rallybio (NASDAQ:RLYB) last issued its earnings results on Thursday, November 6th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.11. Rallybio had a negative return on equity of 65.23% and a negative net margin of 2,102.37%.The firm had revenue of $0.21 million for the quarter, compared to analyst estimates of $0.07 million. Equities research analysts expect that Rallybio Corporation will post -1.34 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Rallybio stock. Citadel Advisors LLC raised its position in Rallybio Corporation (NASDAQ:RLYB) by 576.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 438,705 shares of the company’s stock after purchasing an additional 373,821 shares during the quarter. Citadel Advisors LLC owned about 1.04% of Rallybio worth $219,000 as of its most recent filing with the Securities and Exchange Commission. 90.34% of the stock is 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.