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

Shares of Rallybio Co. (NASDAQ:RLYB) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $12.20.

RLYB has been the topic of several analyst reports. JMP Securities reissued a “market outperform” rating and set a $8.00 price objective on shares of Rallybio in a research note on Thursday, April 18th. Wedbush lowered their price target on Rallybio from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, April 11th. Jefferies Financial Group lowered Rallybio from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. Finally, HC Wainwright lowered their price target on Rallybio from $12.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 13th.

Hedge Funds Weigh In On Rallybio

Several hedge funds have recently made changes to their positions in RLYB. SG Americas Securities LLC acquired a new stake in Rallybio during the 4th quarter worth about $40,000. Financial Security Advisor Inc. purchased a new stake in shares of Rallybio during the 3rd quarter worth about $169,000. Finally, abrdn plc purchased a new stake in shares of Rallybio during the 4th quarter worth about $4,128,000. 90.34% of the stock is owned by institutional investors and hedge funds.

Rallybio Stock Performance

NASDAQ RLYB opened at $1.70 on Monday. The business’s fifty day moving average is $1.80 and its 200 day moving average is $2.27. Rallybio has a fifty-two week low of $1.23 and a fifty-two week high of $9.14. The company has a market capitalization of $64.28 million, a PE ratio of -0.92 and a beta of -1.64.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.06). On average, sell-side analysts forecast that Rallybio will post -1.6 EPS 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.