Rallybio Co. (NASDAQ:RLYB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Rallybio Co. (NASDAQ:RLYB) have received a consensus rating of “Moderate Buy” from the six brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $12.20.

A number of brokerages have recently issued reports on RLYB. HC Wainwright cut their target price on Rallybio from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th. JMP Securities reiterated a “market outperform” rating and issued a $8.00 price objective on shares of Rallybio in a research report on Thursday. Wedbush decreased their target price on shares of Rallybio from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, April 11th. Finally, Jefferies Financial Group cut shares of Rallybio from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th.

Rallybio Stock Performance

Shares of RLYB opened at $1.76 on Monday. Rallybio has a 1 year low of $1.23 and a 1 year high of $9.14. The stock has a market capitalization of $66.55 million, a P/E ratio of -0.96 and a beta of -1.64. The company’s fifty day moving average is $1.81 and its two-hundred day moving average is $2.32.

Rallybio (NASDAQ:RLYB) last issued its quarterly 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 predict that Rallybio will post -1.52 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RLYB. Royal Bank of Canada raised its position in shares of Rallybio by 312.9% during the 2nd quarter. Royal Bank of Canada now owns 4,348 shares of the company’s stock worth $25,000 after purchasing an additional 3,295 shares during the last quarter. UBS Group AG lifted its holdings in shares of Rallybio by 463.6% during the 4th quarter. UBS Group AG now owns 4,892 shares of the company’s stock worth $32,000 after acquiring an additional 4,024 shares during the period. Barclays PLC boosted its position in shares of Rallybio by 631.7% in the fourth quarter. Barclays PLC now owns 4,946 shares of the company’s stock worth $33,000 after acquiring an additional 4,270 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Rallybio in the fourth quarter valued at approximately $34,000. Finally, SG Americas Securities LLC acquired a new position in Rallybio during the fourth quarter worth approximately $40,000. Hedge funds and other 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.