Rallybio Co. (NASDAQ:RLYB) Receives Average Rating of “Moderate Buy” from Analysts

Rallybio Co. (NASDAQ:RLYB) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $10.00.

A number of analysts recently weighed in on RLYB shares. Evercore ISI reiterated an “outperform” rating and set a $15.00 price target on shares of Rallybio in a research note on Monday, August 26th. HC Wainwright reiterated a “buy” rating and set a $6.00 price target on shares of Rallybio in a research note on Tuesday, October 1st.

Rallybio Price Performance

Shares of NASDAQ:RLYB opened at $1.12 on Monday. The stock has a market cap of $46.42 million, a P/E ratio of -0.60 and a beta of -1.70. The firm has a fifty day moving average price of $1.12 and a 200 day moving average price of $1.40. Rallybio has a 1-year low of $1.08 and a 1-year high of $4.60.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. The business had revenue of $0.30 million for the quarter. Sell-side analysts expect that Rallybio will post -1.45 EPS for the current fiscal year.

Institutional Trading of Rallybio

Hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC acquired a new stake in shares of Rallybio in the 2nd quarter worth $25,000. Acadian Asset Management LLC purchased a new position in shares of Rallybio in the 1st quarter valued at about $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Rallybio in the 2nd quarter valued at about $61,000. Almitas Capital LLC purchased a new position in shares of Rallybio in the 2nd quarter valued at about $135,000. Finally, Vanguard Group Inc. increased its holdings in shares of Rallybio by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock valued at $1,992,000 after purchasing an additional 12,801 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

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.