Evercore ISI Reaffirms Outperform Rating for Rallybio (NASDAQ:RLYB)

Evercore ISI reissued their outperform rating on shares of Rallybio (NASDAQ:RLYB) in a research note released on Monday, Benzinga reports. The brokerage currently has a $15.00 price target on the stock.

A number of other equities analysts have also commented on the stock. HC Wainwright decreased their price objective on shares of Rallybio from $9.00 to $6.00 and set a buy rating for the company in a research note on Monday, August 12th. JPMorgan Chase & Co. cut Rallybio from an overweight rating to a neutral rating in a research report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $10.00.

Rallybio Stock Down 6.5 %

Shares of NASDAQ RLYB opened at $1.16 on Monday. Rallybio has a 52-week low of $1.09 and a 52-week high of $5.96. The stock has a market capitalization of $48.08 million, a price-to-earnings ratio of -0.62 and a beta of -1.69. The stock’s fifty day simple moving average is $1.28 and its 200 day simple moving average is $1.59.

Rallybio (NASDAQ:RLYB) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.05. The company had revenue of $0.30 million for the quarter. As a group, analysts anticipate that Rallybio will post -1.45 earnings per share for the current year.

Institutional Investors Weigh In On Rallybio

A number of institutional investors have recently modified their holdings of the stock. Almitas Capital LLC acquired a new position in shares of Rallybio in the second quarter worth $135,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Rallybio in the 2nd quarter worth about $61,000. Hsbc Holdings PLC purchased a new stake in shares of Rallybio during the 2nd quarter worth about $25,000. Johnson & Johnson purchased a new stake in shares of Rallybio during the 2nd quarter worth about $4,873,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Rallybio by 116.3% during the 2nd quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock valued at $89,000 after buying an additional 36,401 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

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.