Rallybio (NASDAQ:RLYB) Stock Rating Reaffirmed by JMP Securities

JMP Securities restated their market outperform rating on shares of Rallybio (NASDAQ:RLYB) in a research note released on Thursday, Benzinga reports. They currently have a $8.00 price target on the stock.

Several other equities research analysts also recently commented on the stock. HC Wainwright dropped their price objective on shares of Rallybio from $12.00 to $9.00 and set a buy rating on the stock in a report on Wednesday, March 13th. Evercore ISI dropped their price objective on shares of Rallybio from $18.00 to $15.00 and set an outperform rating on the stock in a report on Thursday, December 21st. Jefferies Financial Group downgraded shares of Rallybio from a buy rating to a hold rating in a report on Wednesday, February 7th. Finally, Wedbush dropped their price objective on shares of Rallybio from $13.00 to $11.00 and set an outperform rating on the stock in a report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $12.20.

Rallybio Price Performance

Shares of NASDAQ:RLYB opened at $1.67 on Thursday. The company’s 50-day moving average is $1.81 and its 200 day moving average is $2.34. Rallybio has a fifty-two week low of $1.23 and a fifty-two week high of $9.14.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.06). On average, analysts predict that Rallybio will post -1.52 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RLYB. Royal Bank of Canada increased its position in shares of Rallybio by 312.9% in the second quarter. Royal Bank of Canada now owns 4,348 shares of the company’s stock worth $25,000 after purchasing an additional 3,295 shares during the last quarter. UBS Group AG increased its position in shares of Rallybio by 463.6% in the fourth quarter. UBS Group AG now owns 4,892 shares of the company’s stock worth $32,000 after purchasing an additional 4,024 shares during the last quarter. Barclays PLC increased its position in shares of Rallybio by 631.7% in the fourth quarter. Barclays PLC now owns 4,946 shares of the company’s stock worth $33,000 after purchasing an additional 4,270 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Rallybio in the fourth quarter worth approximately $34,000. Finally, SG Americas Securities LLC bought a new position in Rallybio during the fourth quarter valued at approximately $40,000. 90.34% of the stock is currently owned by 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.