Rallybio Co. (NASDAQ:RLYB) Receives $9.75 Average Price Target from Analysts

Rallybio Co. (NASDAQ:RLYB) has received an average rating of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $9.75.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of Rallybio in a report on Monday, January 13th.

Rallybio Stock Performance

RLYB opened at $0.88 on Wednesday. Rallybio has a fifty-two week low of $0.84 and a fifty-two week high of $3.46. The firm has a 50-day moving average of $0.99 and a 200 day moving average of $1.09. The firm has a market cap of $36.51 million, a P/E ratio of -0.55 and a beta of -1.48.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. The firm had revenue of $0.30 million during the quarter. Equities research analysts predict that Rallybio will post -1.34 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC bought a new stake in shares of Rallybio in the 2nd quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Rallybio in the 2nd quarter worth $61,000. Almitas Capital LLC bought a new stake in Rallybio in the second quarter worth $135,000. Geode Capital Management LLC boosted its position in Rallybio by 11.4% during the third 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 during the period. Finally, FMR LLC grew its stake in shares of Rallybio by 1.1% during the third quarter. FMR LLC now owns 2,315,480 shares of the company’s stock valued at $2,709,000 after buying an additional 25,422 shares during the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

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.