Rallybio Co. (NASDAQ:RLYB) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Rallybio Co. (NASDAQ:RLYB - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the six analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $12.20.

A number of research analysts have issued reports on the company. HC Wainwright reiterated a "buy" rating and set a $9.00 price objective on shares of Rallybio in a research note on Friday, May 10th. Wedbush dropped their price target on shares of Rallybio from $13.00 to $11.00 and set an "outperform" rating on the stock in a research note on Thursday, April 11th. Jefferies Financial Group lowered shares of Rallybio from a "buy" rating to a "hold" rating in a research note on Wednesday, February 7th. JPMorgan Chase & Co. downgraded shares of Rallybio from an "overweight" rating to a "neutral" rating in a research note on Wednesday. Finally, JMP Securities reissued a "market outperform" rating and set a $8.00 price target on shares of Rallybio in a research report on Thursday, April 18th.

Hedge Funds Weigh In On Rallybio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. abrdn plc bought a new position in shares of Rallybio during the 4th quarter valued at $4,128,000. Financial Security Advisor Inc. bought a new position in shares of Rallybio during the 3rd quarter valued at $169,000. Acadian Asset Management LLC bought a new position in shares of Rallybio during the 1st quarter valued at $57,000. SG Americas Securities LLC bought a new position in shares of Rallybio during the 4th quarter valued at $40,000. Finally, Vanguard Group Inc. raised its holdings in Rallybio by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company's stock worth $1,992,000 after purchasing an additional 12,801 shares during the period. 90.34% of the stock is owned by institutional investors.

Rallybio Stock Down 4.8 %

Shares of NASDAQ:RLYB traded down $0.09 during midday trading on Friday, reaching $1.77. The company's stock had a trading volume of 205,758 shares, compared to its average volume of 1,135,316. The firm has a 50 day moving average of $1.77 and a 200-day moving average of $2.08. The firm has a market capitalization of $73.37 million, a P/E ratio of -0.94 and a beta of -1.63. Rallybio has a 12-month low of $1.23 and a 12-month high of $9.14.

Rallybio (NASDAQ:RLYB - Get Free Report) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts' consensus estimates of ($0.44) by ($0.06). On average, research analysts predict that Rallybio will post -1.58 EPS for the current year.

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.