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

Shares of Rallybio Co. (NASDAQ:RLYB) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $10.00.

Several analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Rallybio in a report on Tuesday, September 3rd. Evercore ISI reiterated an “outperform” rating and set a $15.00 price objective on shares of Rallybio in a research report on Monday, August 26th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RLYB. Johnson & Johnson acquired a new position in Rallybio during the 2nd quarter valued at about $4,873,000. Almitas Capital LLC acquired a new position in Rallybio in the second quarter valued at about $135,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Rallybio during the 2nd quarter worth approximately $61,000. Acadian Asset Management LLC raised 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 worth $89,000 after acquiring an additional 36,401 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in shares of Rallybio in the 2nd quarter valued at about $25,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Rallybio Stock Performance

Shares of Rallybio stock opened at $1.10 on Thursday. The firm’s 50-day simple moving average is $1.21 and its 200-day simple moving average is $1.50. Rallybio has a 1 year low of $1.08 and a 1 year high of $5.00. The firm has a market cap of $45.64 million, a PE ratio of -0.59 and a beta of -1.71.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.05. The company had revenue of $0.30 million during the quarter. On average, equities 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.