Rallybio Co. (NASDAQ:RLYB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Rallybio Co. (NASDAQ:RLYB) has received an average recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $9.75.

Several brokerages recently issued reports on RLYB. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Rallybio in a report on Tuesday, December 3rd. Evercore ISI reaffirmed an “outperform” rating and set a $15.00 price target on shares of Rallybio in a research note on Monday, August 26th.

Hedge Funds Weigh In On Rallybio

Institutional investors have recently bought and sold shares of the stock. Johnson & Johnson acquired a new stake in Rallybio in the 2nd quarter worth approximately $4,873,000. FMR LLC grew its stake in Rallybio by 1.1% in the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock valued at $2,709,000 after buying an additional 25,422 shares during the last quarter. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 12,801 shares during the period. Geode Capital Management LLC lifted its position in Rallybio by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock worth $287,000 after acquiring an additional 24,980 shares during the last quarter. Finally, Almitas Capital LLC bought a new stake in Rallybio during the second quarter valued at about $135,000. 90.34% of the stock is currently owned by institutional investors.

Rallybio Stock Up 9.4 %

RLYB stock opened at $1.16 on Tuesday. The company has a 50 day moving average of $1.06 and a two-hundred day moving average of $1.21. Rallybio has a 12-month low of $0.95 and a 12-month high of $3.46. The company has a market cap of $48.13 million, a price-to-earnings ratio of -0.72 and a beta of -1.55.

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.