Rallybio (NASDAQ:RLYB) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Posted by Grant Hamersma on Aug 11th, 2024

Rallybio (NASDAQ:RLYB – Get Free Report) released its quarterly earnings data on Thursday. The company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.05, Zacks reports. The business had revenue of $0.30 million during the quarter.

Rallybio Trading Down 4.2 %

RLYB traded down $0.05 during trading on Friday, reaching $1.14. 115,475 shares of the company’s stock were exchanged, compared to its average volume of 94,042. Rallybio has a one year low of $1.09 and a one year high of $6.33. The firm has a fifty day moving average price of $1.38 and a two-hundred day moving average price of $1.62. The stock has a market capitalization of $47.25 million, a PE ratio of -0.61 and a beta of -1.69.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RLYB shares. JMP Securities restated a “market outperform” rating and issued a $8.00 price target on shares of Rallybio in a research note on Thursday, April 18th. HC Wainwright reaffirmed a “buy” rating and set a $9.00 target price on shares of Rallybio in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. downgraded shares of Rallybio from an “overweight” rating to a “neutral” rating in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.75.

View Our Latest Stock Analysis on Rallybio

About Rallybio

(Get Free Report)

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.