Rallybio Co. (NASDAQ:RLYB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Rallybio Co. (NASDAQ:RLYB) have been given a consensus rating of “Moderate Buy” by the six research firms that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $10.00.

RLYB has been the topic of several recent research reports. Evercore ISI reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Rallybio in a research note on Monday, August 26th. HC Wainwright reissued a “buy” rating and set a $6.00 target price on shares of Rallybio in a research report on Tuesday, September 3rd.

Institutional Trading of Rallybio

Hedge funds and other institutional investors have recently modified their holdings of the business. Hsbc Holdings PLC acquired a new stake in shares of Rallybio in the 2nd quarter valued at $25,000. Acadian Asset Management LLC acquired a new position in Rallybio during the first quarter worth about $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Rallybio in the 2nd quarter valued at about $61,000. Almitas Capital LLC acquired a new stake in Rallybio in the 2nd quarter worth about $135,000. Finally, 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 valued at $1,992,000 after acquiring an additional 12,801 shares during the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Rallybio Stock Performance

Shares of RLYB opened at $1.10 on Thursday. The firm has a market cap of $45.64 million, a price-to-earnings ratio of -0.59 and a beta of -1.71. The firm has a 50 day moving average price of $1.21 and a 200-day moving average price of $1.50. Rallybio has a fifty-two week low of $1.08 and a fifty-two week high of $5.00.

Rallybio (NASDAQ:RLYB) last released its earnings results on Thursday, August 8th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. The business had revenue of $0.30 million during the quarter. As a group, equities research analysts predict that Rallybio will post -1.45 earnings per share for the current year.

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.