Rallybio Co. (NASDAQ:RLYB) Receives $10.00 Average Price Target from Brokerages

Rallybio Co. (NASDAQ:RLYB) has been given a consensus recommendation of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $10.00.

RLYB has been the subject of several recent research reports. Evercore ISI restated an “outperform” rating and set a $15.00 target price on shares of Rallybio in a report on Monday, August 26th. HC Wainwright restated a “buy” rating and set a $6.00 target price on shares of Rallybio in a report on Tuesday, October 1st.

Rallybio Stock Up 2.8 %

Shares of RLYB opened at $1.12 on Monday. The company has a 50-day simple moving average of $1.12 and a 200-day simple moving average of $1.40. Rallybio has a 52-week low of $1.08 and a 52-week high of $4.60. The company has a market capitalization of $46.42 million, a PE ratio of -0.60 and a beta of -1.70.

Rallybio (NASDAQ:RLYB) last posted its earnings results on Thursday, August 8th. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.05. The business had revenue of $0.30 million for the quarter. On average, research analysts anticipate that Rallybio will post -1.45 EPS for the current year.

Institutional Investors Weigh In On Rallybio

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Johnson & Johnson purchased a new stake in shares of Rallybio during the second quarter worth about $4,873,000. Vanguard Group Inc. grew its holdings in shares of Rallybio by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after buying an additional 12,801 shares in the last quarter. Almitas Capital LLC purchased a new stake in shares of Rallybio during the second quarter worth about $135,000. Acadian Asset Management LLC grew its holdings in shares of Rallybio by 116.3% during the second quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock worth $89,000 after buying an additional 36,401 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Rallybio during the second quarter worth about $61,000. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

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.