Rallybio Co. (NASDAQ:RLYB) Receives $10.00 Consensus Target Price from Analysts

Shares of Rallybio Co. (NASDAQ:RLYB) have earned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $10.00.

RLYB has been the topic of several recent research reports. Evercore ISI reaffirmed an “outperform” rating and set a $15.00 target price on shares of Rallybio in a report on Monday, August 26th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 target price on shares of Rallybio in a report on Tuesday, September 3rd.

Rallybio Price Performance

NASDAQ RLYB opened at $1.10 on Thursday. Rallybio has a twelve month low of $1.08 and a twelve month high of $5.00. The company has a market cap of $45.59 million, a price-to-earnings ratio of -0.59 and a beta of -1.71. The business’s fifty day moving average is $1.18 and its 200 day moving average is $1.47.

Rallybio (NASDAQ:RLYB) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.05. The firm had revenue of $0.30 million for the quarter. On average, research analysts anticipate that Rallybio will post -1.45 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RLYB. Johnson & Johnson acquired a new position in shares of Rallybio in the 2nd quarter valued at about $4,873,000. Almitas Capital LLC acquired a new position in shares of Rallybio in the 2nd quarter valued at about $135,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rallybio in the 2nd quarter valued at about $61,000. Acadian Asset Management LLC lifted its stake in shares of Rallybio by 116.3% in the 2nd quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock valued at $89,000 after purchasing an additional 36,401 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Rallybio in the 2nd quarter valued at about $25,000. 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.