Wedbush Weighs in on Rallybio Co.’s FY2023 Earnings (NASDAQ:RLYB)

Rallybio Co. (NASDAQ:RLYBFree Report) – Equities researchers at Wedbush upped their FY2023 EPS estimates for Rallybio in a research report issued on Tuesday, February 6th. Wedbush analyst L. Chico now anticipates that the company will post earnings per share of ($1.83) for the year, up from their previous forecast of ($1.84). Wedbush has a “Outperform” rating and a $13.00 price objective on the stock. The consensus estimate for Rallybio’s current full-year earnings is ($1.80) per share. Wedbush also issued estimates for Rallybio’s Q4 2023 earnings at ($0.48) EPS, Q1 2024 earnings at ($0.40) EPS, Q2 2024 earnings at ($0.34) EPS, Q3 2024 earnings at ($0.36) EPS, Q4 2024 earnings at ($0.31) EPS, FY2024 earnings at ($1.41) EPS, FY2025 earnings at ($1.34) EPS, FY2026 earnings at ($1.30) EPS and FY2027 earnings at ($1.41) EPS.

Several other equities analysts have also issued reports on RLYB. Evercore ISI cut their price target on shares of Rallybio from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Thursday, December 21st. HC Wainwright cut their price target on shares of Rallybio from $17.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday. Jefferies Financial Group lowered shares of Rallybio from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, JMP Securities lowered their price objective on shares of Rallybio from $16.00 to $8.00 and set a “market outperform” rating for the company in a research note on Wednesday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Rallybio has a consensus rating of “Moderate Buy” and an average target price of $13.20.

View Our Latest Report on RLYB

Rallybio Stock Up 3.5 %

Shares of RLYB stock opened at $1.77 on Friday. The firm has a market cap of $66.90 million, a price-to-earnings ratio of -0.98 and a beta of -2.05. The company’s 50 day moving average is $2.12 and its 200 day moving average is $3.52. Rallybio has a 52-week low of $1.23 and a 52-week high of $9.88.

Rallybio (NASDAQ:RLYBGet Free Report) last posted its quarterly earnings results on Thursday, November 9th. The company reported ($0.45) earnings per share for the quarter, beating the consensus estimate of ($0.51) by $0.06.

Institutional Investors Weigh In On Rallybio

Several institutional investors and hedge funds have recently made changes to their positions in RLYB. Bank of New York Mellon Corp lifted its stake in shares of Rallybio by 145.6% during the first quarter. Bank of New York Mellon Corp now owns 41,688 shares of the company’s stock worth $291,000 after buying an additional 24,711 shares during the period. Rhumbline Advisers acquired a new position in Rallybio during the first quarter valued at $91,000. BlackRock Inc. lifted its position in Rallybio by 88.6% during the first quarter. BlackRock Inc. now owns 908,164 shares of the company’s stock valued at $6,339,000 after purchasing an additional 426,656 shares during the period. Vanguard Group Inc. lifted its position in Rallybio by 122.0% during the first quarter. Vanguard Group Inc. now owns 710,049 shares of the company’s stock valued at $4,956,000 after purchasing an additional 390,170 shares during the period. Finally, American International Group Inc. lifted its position in Rallybio by 134.9% during the first quarter. American International Group Inc. now owns 8,984 shares of the company’s stock valued at $63,000 after purchasing an additional 5,160 shares during the period. 87.99% of the stock is currently owned by institutional investors and hedge funds.

About Rallybio

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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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Earnings History and Estimates for Rallybio (NASDAQ:RLYB)

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