Rallybio Co. (NASDAQ:RLYB) Receives $10.00 Average Price Target from Brokerages

Rallybio Co. (NASDAQ:RLYB) has received a consensus recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $9.75.

A number of research analysts have commented on RLYB shares. HC Wainwright lowered their price target on Rallybio from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, November 8th. Evercore ISI restated an “outperform” rating and set a $15.00 target price on shares of Rallybio in a report on Monday, August 26th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Johnson & Johnson purchased a new stake in Rallybio in the second quarter worth $4,873,000. Almitas Capital LLC bought a new stake in shares of Rallybio during the 2nd quarter valued at $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Rallybio in the 2nd quarter worth about $61,000. Acadian Asset Management LLC increased its stake in shares of Rallybio by 116.3% in the 2nd quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock worth $89,000 after acquiring an additional 36,401 shares in the last quarter. Finally, FMR LLC lifted its position in Rallybio by 1.1% during the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock valued at $2,709,000 after acquiring an additional 25,422 shares during the period. Institutional investors own 90.34% of the company’s stock.

Rallybio Trading Down 7.3 %

Shares of NASDAQ:RLYB opened at $1.01 on Friday. The company has a 50-day moving average price of $1.08 and a 200-day moving average price of $1.31. The company has a market cap of $41.90 million, a price-to-earnings ratio of -0.63 and a beta of -1.67. Rallybio has a 12 month low of $0.96 and a 12 month high of $3.46.

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.