Rallybio Co. (NASDAQ:RLYB) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Rallybio Co. (NASDAQ:RLYB) have received an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Two 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 brokers that have covered the stock in the last year is $9.75.

RLYB has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of Rallybio in a research report on Tuesday, December 3rd. Evercore ISI reaffirmed an “outperform” rating and set a $15.00 target price on shares of Rallybio in a research note on Monday, August 26th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Johnson & Johnson bought a new stake in Rallybio in the second quarter worth $4,873,000. Almitas Capital LLC purchased a new position in shares of Rallybio in the 2nd quarter worth $135,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Rallybio in the 2nd quarter worth about $61,000. Acadian Asset Management LLC raised its position 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 in the last quarter. Finally, FMR LLC raised its position in shares of Rallybio by 1.1% during 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 in the last quarter. 90.34% of the stock is currently owned by institutional investors.

Rallybio Stock Performance

Shares of RLYB opened at $1.06 on Tuesday. The business’s 50 day moving average is $1.06 and its 200 day moving average is $1.22. Rallybio has a 12-month low of $0.95 and a 12-month high of $3.46. The company has a market capitalization of $43.98 million, a PE ratio of -0.66 and a beta of -1.55.

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.