Rallybio (NASDAQ:RLYB) Given New $11.00 Price Target at Wedbush

Rallybio (NASDAQ:RLYB - Get Free Report) had its target price lowered by stock analysts at Wedbush from $13.00 to $11.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's price target points to a potential upside of 269.13% from the stock's previous close.

Several other research firms have also issued reports on RLYB. HC Wainwright dropped their price objective on Rallybio from $12.00 to $9.00 and set a "buy" rating for the company in a research note on Wednesday, March 13th. Evercore ISI dropped their price objective on Rallybio from $18.00 to $15.00 and set an "outperform" rating for the company in a research note on Thursday, December 21st. Jefferies Financial Group lowered Rallybio from a "buy" rating to a "hold" rating in a research note on Wednesday, February 7th. Finally, JMP Securities restated a "market outperform" rating and issued a $8.00 target price on shares of Rallybio in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $12.20.

Rallybio Trading Up 82.8 %

RLYB stock traded up $1.35 during midday trading on Thursday, hitting $2.98. The stock had a trading volume of 79,535,866 shares, compared to its average volume of 1,373,594. The stock has a 50-day simple moving average of $1.74 and a 200 day simple moving average of $2.41. Rallybio has a 52 week low of $1.23 and a 52 week high of $9.14. The firm has a market capitalization of $112.67 million, a price-to-earnings ratio of -1.62 and a beta of -1.64.

Rallybio (NASDAQ:RLYB - Get Free Report) last released its quarterly earnings data on Tuesday, March 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.06). On average, equities analysts forecast that Rallybio will post -1.55 EPS for the current year.

Institutional Trading of Rallybio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Rallybio by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 1,063,970 shares of the company's stock worth $2,543,000 after purchasing an additional 14,139 shares during the period. Goldman Sachs Group Inc. increased its position in Rallybio by 31.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 19,018 shares of the company's stock worth $45,000 after purchasing an additional 4,524 shares during the period. Blue Owl Capital Holdings LP acquired a new stake in Rallybio in the fourth quarter worth about $837,000. Barclays PLC increased its position in Rallybio by 834.2% in the fourth quarter. Barclays PLC now owns 57,479 shares of the company's stock worth $138,000 after purchasing an additional 51,326 shares during the period. Finally, Bridgeway Capital Management LLC increased its position in Rallybio by 56.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 128,500 shares of the company's stock worth $307,000 after purchasing an additional 46,500 shares during the period. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.