Analysts Set Rallybio Co. (NASDAQ:RLYB) Price Target at $12.20

Shares of Rallybio Co. (NASDAQ:RLYB) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $12.20.

Several equities research analysts have recently weighed in on the company. Wedbush reduced their price objective on Rallybio from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, April 11th. Jefferies Financial Group cut Rallybio from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. HC Wainwright reduced their price objective on Rallybio from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Finally, JMP Securities reissued a “market outperform” rating and issued a $8.00 price objective on shares of Rallybio in a research report on Thursday, April 18th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in Rallybio during the fourth quarter worth $40,000. Financial Security Advisor Inc. acquired a new position in Rallybio during the third quarter worth $169,000. Finally, abrdn plc acquired a new position in Rallybio during the fourth quarter worth $4,128,000. 90.34% of the stock is owned by institutional investors.

Rallybio Stock Down 9.2 %

Shares of Rallybio stock opened at $1.58 on Monday. The stock has a market capitalization of $59.74 million, a P/E ratio of -0.86 and a beta of -1.64. The stock has a 50 day moving average price of $1.81 and a two-hundred day moving average price of $2.28. Rallybio has a 12-month low of $1.23 and a 12-month high of $9.14.

Rallybio (NASDAQ:RLYB) last announced its earnings results on Tuesday, March 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.06). Sell-side analysts anticipate that Rallybio will post -1.6 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.