JMP Securities Reaffirms Market Outperform Rating for Rallybio (NASDAQ:RLYB)

JMP Securities reissued their market outperform rating on shares of Rallybio (NASDAQ:RLYB - Free Report) in a report released on Thursday morning, Benzinga reports. They currently have a $8.00 price objective on the stock.

Other analysts also recently issued reports about the stock. Wedbush reduced their target price on shares of Rallybio from $13.00 to $11.00 and set an outperform rating on the stock in a research report on Thursday, April 11th. Jefferies Financial Group downgraded shares of Rallybio from a buy rating to a hold rating in a research report on Wednesday, February 7th. Evercore ISI reduced their target price on shares of Rallybio from $18.00 to $15.00 and set an outperform rating on the stock in a research report on Thursday, December 21st. Finally, HC Wainwright dropped their price target on shares of Rallybio from $12.00 to $9.00 and set a buy rating on the stock in a research note on Wednesday, March 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $12.20.

Rallybio Price Performance

Rallybio stock traded down $0.09 during mid-day trading on Thursday, reaching $1.67. 351,462 shares of the company traded hands, compared to its average volume of 1,387,994. The firm's 50 day moving average price is $1.81 and its 200 day moving average price is $2.35. The firm has a market capitalization of $63.14 million, a price-to-earnings ratio of -0.91 and a beta of -1.64. Rallybio has a 52-week low of $1.23 and a 52-week high of $9.14.

Rallybio (NASDAQ:RLYB - Get Free Report) last released its earnings results 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, sell-side analysts anticipate that Rallybio will post -1.52 EPS for the current year.

Hedge Funds Weigh In On Rallybio

Hedge funds have recently bought and sold shares of the company. Financial Security Advisor Inc. bought a new position in Rallybio in the 3rd quarter worth about $169,000. Mercer Global Advisors Inc. ADV bought a new position in Rallybio during the 1st quarter valued at about $57,000. Barclays PLC lifted its stake in Rallybio by 93.6% during the 1st quarter. Barclays PLC now owns 9,577 shares of the company's stock valued at $54,000 after acquiring an additional 4,631 shares during the period. California State Teachers Retirement System lifted its stake in Rallybio by 124.8% during the 1st quarter. California State Teachers Retirement System now owns 7,694 shares of the company's stock valued at $54,000 after acquiring an additional 4,272 shares during the period. Finally, Citigroup Inc. bought a new position in Rallybio during the 2nd quarter valued at about $52,000. Institutional investors 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.