Rallybio (NASDAQ:RLYB) Issues Earnings Results, Beats Estimates By $0.05 EPS

Rallybio (NASDAQ:RLYB) announced its quarterly earnings data on Thursday. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.05, Zacks reports. The firm had revenue of $0.30 million for the quarter.

Rallybio Stock Performance

Shares of NASDAQ:RLYB traded down $0.05 during mid-day trading on Friday, reaching $1.14. 115,475 shares of the company’s stock were exchanged, compared to its average volume of 94,042. The firm has a market capitalization of $47.25 million, a price-to-earnings ratio of -0.61 and a beta of -1.69. Rallybio has a twelve month low of $1.09 and a twelve month high of $6.33. The business’s fifty day moving average price is $1.38 and its 200-day moving average price is $1.62.

Analyst Upgrades and Downgrades

RLYB has been the subject of a number of research analyst reports. JMP Securities reissued a “market outperform” rating and set a $8.00 price target on shares of Rallybio in a report on Thursday, April 18th. JPMorgan Chase & Co. downgraded shares of Rallybio from an “overweight” rating to a “neutral” rating in a research note on Wednesday, May 15th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $9.00 price target on shares of Rallybio in a report on Friday, May 10th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.75.

Rallybio Company Profile

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.