Rallybio (NASDAQ:RLYB) Downgraded to Neutral at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Rallybio (NASDAQ:RLYB - Free Report) from an overweight rating to a neutral rating in a research note published on Wednesday morning, Marketbeat reports.

Several other research firms have also commented on RLYB. JMP Securities restated a market outperform rating and issued a $8.00 price target on shares of Rallybio in a report on Thursday, April 18th. Jefferies Financial Group lowered shares of Rallybio from a buy rating to a hold rating in a report on Wednesday, February 7th. Wedbush dropped their price objective 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. Finally, 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. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Rallybio has an average rating of Moderate Buy and a consensus target price of $12.20.

Rallybio Price Performance

NASDAQ RLYB traded up $0.07 during mid-day trading on Wednesday, hitting $1.91. The company's stock had a trading volume of 227,013 shares, compared to its average volume of 1,154,903. Rallybio has a 52-week low of $1.23 and a 52-week high of $9.14. The stock's fifty day simple moving average is $1.77 and its two-hundred day simple moving average is $2.10. The firm has a market capitalization of $79.17 million, a P/E ratio of -0.98 and a beta of -1.63.

Rallybio (NASDAQ:RLYB - Get Free Report) last posted its quarterly earnings results on Tuesday, March 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.06). On average, equities analysts forecast that Rallybio will post -1.6 earnings per share for the current fiscal year.

Institutional Trading of Rallybio

Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new stake in shares of Rallybio during the fourth quarter worth approximately $40,000. Acadian Asset Management LLC acquired a new position in Rallybio in the first quarter worth $57,000. Financial Security Advisor Inc. acquired a new position in Rallybio in the third quarter worth $169,000. Vanguard Group Inc. boosted its holdings in Rallybio by 1.2% in the first 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. Finally, abrdn plc acquired a new position in Rallybio in the fourth quarter worth $4,128,000. Institutional investors and hedge funds own 90.34% of the company's stock.

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.