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

Rallybio Co. (NASDAQ:RLYB) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $9.75.

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

Rallybio Stock Performance

NASDAQ RLYB opened at $0.89 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 market capitalization of $36.88 million, a P/E ratio of -0.56 and a beta of -1.48. The stock has a 50-day simple moving average of $0.99 and a two-hundred day simple moving average of $1.08.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings results 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 company had revenue of $0.30 million during the quarter. As a group, analysts forecast that Rallybio will post -1.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Hsbc Holdings PLC acquired a new stake in Rallybio in the 2nd quarter valued at $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Rallybio during the second quarter valued at $61,000. Almitas Capital LLC acquired a new stake in shares of Rallybio in the second quarter valued at about $135,000. FMR LLC increased 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 worth $2,709,000 after purchasing an additional 25,422 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Rallybio by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock worth $287,000 after purchasing an additional 24,980 shares during the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

About Rallybio

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.