Rallybio Co. (NASDAQ:RLYB) Receives $12.20 Consensus Price Target from Analysts

Shares of Rallybio Co. (NASDAQ:RLYB) have been given a consensus rating of “Moderate Buy” by the six analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment 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 brokerages that have updated their coverage on the stock in the last year is $12.20.

Several analysts have recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Rallybio from an “overweight” rating to a “neutral” rating in a report on Wednesday, May 15th. HC Wainwright reiterated a “buy” rating and issued a $9.00 target price on shares of Rallybio in a report on Friday, May 10th. JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of Rallybio in a report on Thursday, April 18th. Finally, Wedbush decreased their price objective 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.

Hedge Funds Weigh In On Rallybio

Several large investors have recently modified their holdings of RLYB. abrdn plc purchased a new position in shares of Rallybio in the fourth quarter worth about $4,128,000. Acadian Asset Management LLC bought a new position in shares of Rallybio in the first quarter valued at approximately $57,000. SG Americas Securities LLC bought a new position in shares of Rallybio in the fourth quarter valued at approximately $40,000. Finally, Vanguard Group Inc. boosted its position in shares of 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 period. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Rallybio Stock Down 6.9 %

Shares of NASDAQ RLYB opened at $1.55 on Tuesday. The firm has a market cap of $64.04 million, a PE ratio of -0.82 and a beta of -1.65. Rallybio has a 12-month low of $1.23 and a 12-month high of $8.26. The company’s fifty day simple moving average is $1.74 and its 200 day simple moving average is $1.89.

Rallybio (NASDAQ:RLYB) last announced its earnings results on Thursday, May 9th. The company reported ($0.47) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.03. On average, equities analysts predict that Rallybio will post -1.42 earnings per share for the current year.

About Rallybio

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.