Rallybio Co. (NASDAQ:RLYB) Receives Average Recommendation of “Moderate Buy” from Analysts

Rallybio Co. (NASDAQ:RLYB) has received an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $10.00.

Several research firms have recently commented on RLYB. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Rallybio in a research report on Wednesday, October 30th. Evercore ISI reiterated an “outperform” rating and issued a $15.00 price target on shares of Rallybio in a research report on Monday, August 26th.

Rallybio Stock Down 1.0 %

Shares of RLYB stock opened at $0.99 on Friday. The firm has a market capitalization of $41.07 million, a PE ratio of -0.55 and a beta of -1.67. The company has a 50 day moving average price of $1.09 and a 200-day moving average price of $1.33. Rallybio has a 52 week low of $0.96 and a 52 week high of $3.46.

Rallybio (NASDAQ:RLYB) last announced its earnings results on Thursday, August 8th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. The company had revenue of $0.30 million for the quarter. Analysts anticipate that Rallybio will post -1.45 earnings per share for the current year.

Institutional Investors Weigh In On Rallybio

A number of institutional investors have recently bought and sold shares of RLYB. Johnson & Johnson purchased a new position in shares of Rallybio in the second quarter worth $4,873,000. Almitas Capital LLC purchased a new stake in Rallybio in the 2nd quarter worth $135,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Rallybio during the 2nd quarter valued at about $61,000. Acadian Asset Management LLC grew its position in shares of Rallybio by 116.3% during the second quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock valued at $89,000 after purchasing an additional 36,401 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in shares of Rallybio in the second quarter worth about $25,000. Hedge funds and other 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.