JMP Securities Trims Rallybio (NASDAQ:RLYB) Target Price to $8.00

Rallybio (NASDAQ:RLYBFree Report) had its price target decreased by JMP Securities from $16.00 to $8.00 in a report published on Wednesday, Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

RLYB has been the topic of several other research reports. Jefferies Financial Group lowered shares of Rallybio from a buy rating to a hold rating in a research note on Wednesday. Evercore ISI lowered their price objective on shares of Rallybio from $18.00 to $15.00 and set an outperform rating on the stock in a research note on Thursday, December 21st. Wedbush lowered their price objective on shares of Rallybio from $14.00 to $13.00 and set an outperform rating on the stock in a research note on Wednesday. Finally, HC Wainwright lowered their price objective on shares of Rallybio from $17.00 to $12.00 and set a buy rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Rallybio presently has an average rating of Moderate Buy and a consensus target price of $13.20.

Read Our Latest Analysis on Rallybio

Rallybio Trading Up 3.5 %

Shares of NASDAQ:RLYB opened at $1.77 on Wednesday. The firm’s 50 day moving average is $2.12 and its two-hundred day moving average is $3.54. Rallybio has a 52 week low of $1.23 and a 52 week high of $9.88. The firm has a market capitalization of $66.89 million, a P/E ratio of -0.98 and a beta of -2.05.

Rallybio (NASDAQ:RLYBGet Free Report) last announced its quarterly earnings results on Thursday, November 9th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.06. Analysts predict that Rallybio will post -1.82 EPS for the current year.

Institutional Trading of Rallybio

A number of large investors have recently added to or reduced their stakes in the business. abrdn plc bought a new stake in Rallybio during the fourth quarter worth approximately $4,128,000. SG Americas Securities LLC bought a new stake in Rallybio during the fourth quarter worth approximately $40,000. Vanguard Group Inc. boosted its holdings in Rallybio by 1.1% during the third quarter. Vanguard Group Inc. now owns 1,049,831 shares of the company’s stock worth $3,538,000 after buying an additional 11,710 shares in the last quarter. Financial Security Advisor Inc. bought a new stake in Rallybio during the third quarter worth approximately $169,000. Finally, California State Teachers Retirement System boosted its holdings in Rallybio by 45.4% during the second quarter. California State Teachers Retirement System now owns 10,170 shares of the company’s stock worth $58,000 after buying an additional 3,175 shares in the last quarter. 87.99% of the stock is currently owned by institutional investors.

Rallybio Company Profile

(Get Free Report)

Rallybio Corporation, a clinical-stage biotechnology company, engages in identifying, accelerating, and development 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 is in Phase I clinical trial for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT).

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