HC Wainwright reissued their buy rating on shares of Rallybio (NASDAQ:RLYB - Free Report) in a research report sent to investors on Friday, Benzinga reports. They currently have a $9.00 price target on the stock.
Other analysts have also issued reports about the stock. JMP Securities reiterated a market outperform rating and set a $8.00 target price on shares of Rallybio in a report on Thursday, April 18th. Wedbush dropped their target price on shares of Rallybio from $13.00 to $11.00 and set an outperform rating for the company in a report on Thursday, April 11th. Finally, Jefferies Financial Group lowered shares of Rallybio from a buy rating to a hold rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $12.20.
Read Our Latest Report on Rallybio
Rallybio Price Performance
Rallybio stock traded down $0.07 during trading hours on Friday, reaching $1.83. The company had a trading volume of 187,620 shares, compared to its average volume of 4,643,449. The firm has a market cap of $69.19 million, a price-to-earnings ratio of -0.99 and a beta of -1.63. Rallybio has a 12-month low of $1.23 and a 12-month high of $9.14. The company has a 50-day moving average price of $1.78 and a 200 day moving average price of $2.15.
Rallybio (NASDAQ:RLYB - Get Free Report) last issued its 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). As a group, research analysts expect that Rallybio will post -1.6 earnings per share for the current year.
Institutional Trading of Rallybio
Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Rallybio in the fourth quarter worth about $40,000. Acadian Asset Management LLC purchased a new stake in Rallybio in the first quarter worth about $57,000. Financial Security Advisor Inc. purchased a new stake in Rallybio in the third quarter worth about $169,000. Vanguard Group Inc. lifted 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 buying an additional 12,801 shares during the period. Finally, abrdn plc purchased a new stake in Rallybio in the fourth quarter worth about $4,128,000. 90.34% of the stock is currently owned by hedge funds and other institutional investors.
Rallybio Company Profile
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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.
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