Rallybio (NASDAQ:RLYB) Rating Reiterated by JMP Securities

Rallybio (NASDAQ:RLYB)‘s stock had its “market outperform” rating reaffirmed by analysts at JMP Securities in a report issued on Thursday, Benzinga reports. They currently have a $8.00 target price on the stock. JMP Securities’ price target indicates a potential upside of 354.55% from the stock’s previous close.

Several other equities research analysts also recently commented on RLYB. Evercore ISI reduced their price target on shares of Rallybio from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, December 21st. Jefferies Financial Group downgraded shares of Rallybio from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. HC Wainwright cut their target price on shares of Rallybio from $12.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Finally, Wedbush cut their target price on shares of Rallybio from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, April 11th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.20.

Rallybio Stock Performance

Shares of NASDAQ:RLYB opened at $1.76 on Thursday. The company has a market cap of $66.55 million, a PE ratio of -0.96 and a beta of -1.64. Rallybio has a 52 week low of $1.23 and a 52 week high of $9.14. The firm has a 50 day simple moving average of $1.81 and a 200 day simple moving average of $2.33.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings results 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, equities analysts predict that Rallybio will post -1.52 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. abrdn plc bought a new position in shares of Rallybio during the 4th quarter valued at $4,128,000. BlackRock Inc. raised its holdings in shares of Rallybio by 77.5% during the 2nd quarter. BlackRock Inc. now owns 1,653,859 shares of the company’s stock valued at $9,361,000 after purchasing an additional 722,364 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Rallybio by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 1,063,970 shares of the company’s stock valued at $2,543,000 after purchasing an additional 14,139 shares in the last quarter. Laurion Capital Management LP raised its holdings in shares of Rallybio by 94.8% during the 4th quarter. Laurion Capital Management LP now owns 783,291 shares of the company’s stock valued at $5,146,000 after purchasing an additional 381,291 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Rallybio by 35.6% during the 2nd quarter. Geode Capital Management LLC now owns 493,371 shares of the company’s stock valued at $2,792,000 after purchasing an additional 129,611 shares in the last quarter. 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.