Rallybio (NASDAQ:RLYB) Trading 5.1% Higher – What’s Next?

Rallybio Corporation (NASDAQ:RLYB) shares were up 5.1% during mid-day trading on Monday . The stock traded as high as $0.7799 and last traded at $0.7693. Approximately 173,094 shares changed hands during mid-day trading, an increase of 1% from the average daily volume of 170,709 shares. The stock had previously closed at $0.7320.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on RLYB. Weiss Ratings restated a “sell (d-)” rating on shares of Rallybio in a research report on Monday, December 8th. Wall Street Zen cut shares of Rallybio from a “hold” rating to a “sell” rating in a research note on Sunday, October 12th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $5.00.

Rallybio Stock Up 5.1%

The business’s fifty day moving average is $0.63 and its 200-day moving average is $0.53. The stock has a market capitalization of $32.50 million, a PE ratio of -2.40 and a beta of -1.04.

Rallybio (NASDAQ:RLYB) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.11. The company had revenue of $0.21 million for the quarter, compared to the consensus estimate of $0.07 million. Rallybio had a negative return on equity of 65.23% and a negative net margin of 2,102.37%. As a group, sell-side analysts anticipate that Rallybio Corporation will post -1.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Rallybio stock. Susquehanna International Group LLP raised its holdings in Rallybio Corporation (NASDAQ:RLYB) by 485.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 136,294 shares of the company’s stock after purchasing an additional 113,031 shares during the period. Susquehanna International Group LLP owned about 0.32% of Rallybio worth $68,000 as of its most recent SEC filing. Institutional investors 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.