Rallybio (NASDAQ:RLYB) Rating Reiterated by JMP Securities

Rallybio (NASDAQ:RLYB)‘s stock had its “market outperform” rating restated by JMP Securities in a research note issued on Thursday, Benzinga reports. They currently have a $8.00 price target on the stock. JMP Securities’ target price would indicate a potential upside of 354.55% from the company’s previous close.

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

Rallybio Price Performance

NASDAQ:RLYB opened at $1.76 on Thursday. The firm has a market capitalization of $66.55 million, a PE ratio of -0.96 and a beta of -1.64. The business’s fifty day moving average price is $1.81 and its 200 day moving average price is $2.33. Rallybio has a 12 month low of $1.23 and a 12 month high of $9.14.

Rallybio (NASDAQ:RLYB) last posted its earnings results on Tuesday, March 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.06). As a group, equities analysts anticipate that Rallybio will post -1.52 EPS for the current year.

Institutional Investors Weigh In On Rallybio

Several hedge funds have recently made changes to their positions in RLYB. Royal Bank of Canada boosted its stake in shares of Rallybio by 312.9% during the second quarter. Royal Bank of Canada now owns 4,348 shares of the company’s stock worth $25,000 after buying an additional 3,295 shares during the period. UBS Group AG boosted its stake in shares of Rallybio by 463.6% during the fourth quarter. UBS Group AG now owns 4,892 shares of the company’s stock worth $32,000 after buying an additional 4,024 shares during the period. Barclays PLC boosted its stake in shares of Rallybio by 631.7% during the fourth quarter. Barclays PLC now owns 4,946 shares of the company’s stock worth $33,000 after buying an additional 4,270 shares during the period. Hsbc Holdings PLC acquired a new stake in shares of Rallybio during the fourth quarter worth about $34,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Rallybio during the fourth quarter worth about $40,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

About Rallybio

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.