Shares of Rallybio Co. (NASDAQ:RLYB – Get Free Report) have been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $12.20.
A number of equities analysts have commented on RLYB shares. JMP Securities reaffirmed a “market outperform” rating and issued a $8.00 price objective on shares of Rallybio in a report on Thursday, April 18th. JPMorgan Chase & Co. cut Rallybio from an “overweight” rating to a “neutral” rating in a research note on Wednesday, May 15th. Wedbush cut their target price on Rallybio from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, April 11th. Finally, HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Rallybio in a research note on Friday, May 10th.
View Our Latest Research Report on RLYB
Rallybio Stock Down 3.5 %
Rallybio (NASDAQ:RLYB – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.03. On average, equities analysts anticipate that Rallybio will post -1.42 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of RLYB. SG Americas Securities LLC acquired a new position in Rallybio during the fourth quarter worth about $40,000. abrdn plc acquired a new position in Rallybio during the fourth quarter worth about $4,128,000. Vanguard Group Inc. grew its holdings in Rallybio by 1.2% during 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. Finally, Acadian Asset Management LLC acquired a new position in Rallybio during the first quarter worth about $57,000. 90.34% of the stock is 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.
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