Rallybio Co. (NASDAQ:RLYB) Receives $9.75 Consensus Target Price from Brokerages

Shares of Rallybio Co. (NASDAQ:RLYB) have been assigned an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $9.75.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.00 price target on shares of Rallybio in a research report on Tuesday, December 3rd.

Rallybio Stock Up 3.3 %

Shares of RLYB opened at $0.96 on Friday. The stock has a market capitalization of $39.83 million, a P/E ratio of -0.60 and a beta of -1.55. Rallybio has a twelve month low of $0.84 and a twelve month high of $3.46. The firm has a fifty day simple moving average of $1.03 and a two-hundred day simple moving average of $1.15.

Institutional Trading of Rallybio

A number of hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC purchased a new position in Rallybio during the 2nd quarter valued at about $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Rallybio during the second quarter valued at approximately $61,000. Acadian Asset Management LLC lifted its holdings 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 during the last quarter. Almitas Capital LLC bought a new stake in shares of Rallybio in the 2nd quarter worth approximately $135,000. Finally, Geode Capital Management LLC increased its position in Rallybio by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after buying an additional 24,980 shares in the last quarter. 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.