Rallybio Co. (NASDAQ:RLYB) Receives $9.75 Average PT from Analysts

Rallybio Co. (NASDAQ:RLYB) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $9.75.

Separately, HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Rallybio in a research report on Tuesday, December 3rd.

Rallybio Price Performance

Shares of RLYB opened at $1.01 on Friday. The company has a market capitalization of $41.90 million, a price-to-earnings ratio of -0.63 and a beta of -1.55. The business has a 50-day moving average of $1.02 and a 200-day moving average of $1.14. Rallybio has a 1 year low of $0.84 and a 1 year high of $3.46.

Institutional Trading of Rallybio

Hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC bought a new position in Rallybio during the second quarter worth $25,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Rallybio during the 2nd quarter worth about $61,000. Acadian Asset Management LLC grew 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 valued at $89,000 after buying an additional 36,401 shares during the period. Almitas Capital LLC bought a new stake in Rallybio in the 2nd quarter valued at about $135,000. Finally, Geode Capital Management LLC raised its stake in 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 buying an additional 24,980 shares during the period. Institutional investors own 90.34% of the company’s stock.

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.