Brokerages Set Rallybio Corporation (NASDAQ:RLYB) Price Target at $40.00

Shares of Rallybio Corporation (NASDAQ:RLYB) have been assigned a consensus rating of “Reduce” from the five analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $40.00.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Rallybio in a research report on Monday, December 29th.

Rallybio Stock Performance

NASDAQ:RLYB opened at $10.51 on Monday. The company has a market cap of $55.49 million, a P/E ratio of -4.11 and a beta of -1.13. Rallybio has a 52-week low of $1.76 and a 52-week high of $11.49. The stock’s 50-day simple moving average is $5.65 and its 200 day simple moving average is $5.20.

Institutional Investors Weigh In On Rallybio

A number of institutional investors have recently made changes to their positions in the company. XTX Topco Ltd lifted its holdings in shares of Rallybio by 64.6% during the 4th quarter. XTX Topco Ltd now owns 97,313 shares of the company’s stock worth $67,000 after acquiring an additional 38,205 shares during the period. Susquehanna International Group LLP raised its holdings in Rallybio by 485.9% in the 3rd quarter. Susquehanna International Group LLP now owns 136,294 shares of the company’s stock valued at $68,000 after buying an additional 113,031 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Rallybio by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 248,005 shares of the company’s stock worth $170,000 after purchasing an additional 2,996 shares during the period. Citadel Advisors LLC grew its position in shares of Rallybio by 576.1% in the 3rd quarter. Citadel Advisors LLC now owns 438,705 shares of the company’s stock valued at $219,000 after buying an additional 373,821 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in Rallybio by 16.9% during the 4th quarter. Renaissance Technologies LLC now owns 835,692 shares of the company’s stock valued at $573,000 after purchasing an additional 120,892 shares during the period. Institutional investors own 90.34% of the company’s stock.

Rallybio Company Profile

Rallybio Therapeutics, Inc (NASDAQ: RLYB) is a clinical‐stage biotechnology company focused on developing and commercializing therapies for people living with rare genetic diseases. The company’s scientific approach leverages diverse modalities—including monoclonal antibodies, small molecules and enzyme replacement—to address high‐unmet‐need conditions in areas such as immunodeficiency, metabolic disorders and dermatologic diseases. Rallybio’s pipeline is designed to advance through registrational clinical trials with the goal of delivering first‐in‐class or best‐in‐class therapies to patients who currently have limited or no approved treatment options.

Among Rallybio’s lead programs is RBX‐100, an investigational therapy for congenital athymia, a rare pediatric immunodeficiency.