Evercore ISI Reaffirms “Outperform” Rating for Rallybio (NASDAQ:RLYB)

Evercore ISI restated their outperform rating on shares of Rallybio (NASDAQ:RLYB) in a report released on Monday morning, Benzinga reports. They currently have a $15.00 price objective on the stock.

Other analysts have also issued reports about the stock. JPMorgan Chase & Co. lowered shares of Rallybio from an overweight rating to a neutral rating in a research note on Wednesday, May 15th. HC Wainwright cut their target price on Rallybio from $9.00 to $6.00 and set a buy rating for the company in a research report on Monday, August 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Rallybio has a consensus rating of Moderate Buy and a consensus price target of $10.00.

Rallybio Price Performance

Shares of Rallybio stock opened at $1.19 on Monday. Rallybio has a 1-year low of $1.09 and a 1-year high of $5.96. The business’s fifty day moving average price is $1.27 and its two-hundred day moving average price is $1.58. The company has a market capitalization of $49.32 million, a P/E ratio of -0.63 and a beta of -1.69.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. The company had revenue of $0.30 million for the quarter. On average, research analysts expect that Rallybio will post -1.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rallybio

Hedge funds have recently made changes to their positions in the business. abrdn plc bought a new stake in Rallybio during the fourth quarter worth approximately $4,128,000. Vanguard Group Inc. boosted its stake in shares of Rallybio by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after acquiring an additional 12,801 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Rallybio during the 1st quarter worth $57,000. Johnson & Johnson acquired a new position in shares of Rallybio in the 2nd quarter worth $4,873,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Rallybio during the second quarter worth $25,000. Institutional investors and hedge funds 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.