Rallybio (NASDAQ:RLYB) Trading Down 0.7%

Rallybio Co. (NASDAQ:RLYBGet Free Report)’s stock price traded down 0.7% during trading on Friday . The company traded as low as $1.46 and last traded at $1.48. 112,373 shares were traded during trading, a decline of 89% from the average session volume of 1,017,173 shares. The stock had previously closed at $1.49.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on RLYB. JPMorgan Chase & Co. cut shares of Rallybio from an “overweight” rating to a “neutral” rating in a research report on Wednesday, May 15th. HC Wainwright reaffirmed a “buy” rating and issued a $9.00 price target on shares of Rallybio in a research note on Friday, May 10th. Wedbush lowered their price objective on shares of Rallybio from $13.00 to $11.00 and set an “outperform” rating on the stock in a report on Thursday, April 11th. Finally, JMP Securities restated a “market outperform” rating and set a $8.00 target price on shares of Rallybio in a report on Thursday, April 18th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.20.

View Our Latest Stock Report on RLYB

Rallybio Price Performance

The stock’s 50-day moving average price is $1.75 and its 200-day moving average price is $1.93. The company has a market cap of $61.35 million, a P/E ratio of -0.79 and a beta of -1.65.

Rallybio (NASDAQ:RLYBGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.47) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.03. As a group, analysts expect that Rallybio Co. will post -1.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in shares of Rallybio in the fourth quarter valued at approximately $40,000. Acadian Asset Management LLC bought a new position in shares of Rallybio in the 1st quarter worth $57,000. Vanguard Group Inc. lifted its holdings in shares of Rallybio by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after purchasing an additional 12,801 shares in the last quarter. Finally, abrdn plc bought a new position in Rallybio during the 4th quarter valued at $4,128,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Rallybio Company Profile

(Get Free Report)

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.

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