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

Shares of Rallybio Co. (NASDAQ:RLYB) 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.

Rallybio Stock Down 3.5 %

Shares of NASDAQ:RLYB opened at $1.38 on Friday. Rallybio has a 52-week low of $1.16 and a 52-week high of $6.38. The company has a 50 day moving average of $1.56 and a two-hundred day moving average of $1.72. The company has a market capitalization of $57.20 million, a price-to-earnings ratio of -0.73 and a beta of -1.69.

Rallybio (NASDAQ:RLYB) 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.