Brokerages Set Rallybio Co. (NASDAQ:RLYB) Target Price at $9.75

Rallybio Co. (NASDAQ:RLYB) has earned an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $9.75.

Separately, HC Wainwright restated a “buy” rating and issued a $5.00 price target on shares of Rallybio in a research report on Monday, January 13th.

Rallybio Stock Down 3.9 %

NASDAQ RLYB opened at $0.88 on Wednesday. Rallybio has a twelve month low of $0.84 and a twelve month high of $3.46. The business’s fifty day moving average is $0.99 and its 200 day moving average is $1.09. The company has a market cap of $36.51 million, a price-to-earnings ratio of -0.55 and a beta of -1.48.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.10. The firm had revenue of $0.30 million for the quarter. On average, research analysts anticipate that Rallybio will post -1.34 earnings per share for the current fiscal year.

Institutional Trading of Rallybio

Several institutional investors have recently added to or reduced their stakes in RLYB. Geode Capital Management LLC boosted its stake in shares of Rallybio by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after purchasing an additional 24,980 shares during the last quarter. FMR LLC lifted its holdings in Rallybio by 1.1% in the third 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 period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Rallybio during the 2nd quarter valued at about $61,000. Almitas Capital LLC bought a new position in shares of Rallybio during the 2nd quarter worth approximately $135,000. Finally, Hsbc Holdings PLC bought a new position in Rallybio during the second quarter worth $25,000. 90.34% of the stock is currently owned by 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.