Rallybio’s (RLYB) “Market Outperform” Rating Reiterated at JMP Securities

Rallybio (NASDAQ:RLYB)‘s stock had its “market outperform” rating reiterated by investment analysts at JMP Securities in a report released on Thursday, Benzinga reports. They currently have a $8.00 target price on the stock. JMP Securities’ price target would suggest a potential upside of 359.77% from the company’s current price.

A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group lowered shares of Rallybio from a “buy” rating to a “hold” rating in a report on Wednesday, February 7th. Wedbush lowered their price objective on shares of Rallybio from $13.00 to $11.00 and set an “outperform” rating for the company in a report on Thursday, April 11th. Evercore ISI lowered their price objective on shares of Rallybio from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Thursday, December 21st. Finally, HC Wainwright lowered their price target on shares of Rallybio from $12.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.20.

Rallybio Stock Performance

Rallybio stock traded down $0.02 during mid-day trading on Thursday, hitting $1.74. 193,244 shares of the company traded hands, compared to its average volume of 1,385,752. Rallybio has a one year low of $1.23 and a one year high of $9.14. The stock has a market cap of $65.79 million, a price-to-earnings ratio of -0.95 and a beta of -1.64. The stock has a fifty day moving average price of $1.81 and a 200-day moving average price of $2.35.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings data on Tuesday, March 12th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.06). Sell-side analysts predict that Rallybio will post -1.52 EPS for the current year.

Institutional Investors Weigh In On Rallybio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its position in Rallybio by 312.9% during the 2nd quarter. Royal Bank of Canada now owns 4,348 shares of the company’s stock valued at $25,000 after purchasing an additional 3,295 shares during the period. UBS Group AG increased its position in Rallybio by 463.6% during the 4th quarter. UBS Group AG now owns 4,892 shares of the company’s stock valued at $32,000 after purchasing an additional 4,024 shares during the period. Barclays PLC increased its position in Rallybio by 631.7% during the 4th quarter. Barclays PLC now owns 4,946 shares of the company’s stock valued at $33,000 after purchasing an additional 4,270 shares during the period. California State Teachers Retirement System increased its position in Rallybio by 124.8% during the 1st quarter. California State Teachers Retirement System now owns 7,694 shares of the company’s stock valued at $54,000 after purchasing an additional 4,272 shares during the period. Finally, American International Group Inc. increased its position in Rallybio by 134.9% during the 1st quarter. American International Group Inc. now owns 8,984 shares of the company’s stock valued at $63,000 after purchasing an additional 5,160 shares during the period. 90.34% of the stock is currently owned by institutional investors.

Rallybio Company Profile

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.