Brokerages Set Rallybio Co. (NASDAQ:RLYB) Target Price at $12.60

Rallybio Co. (NASDAQ:RLYBGet Free Report) has been given an average recommendation of “Moderate Buy” by the six analysts that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $12.60.

A number of research firms recently weighed in on RLYB. Jefferies Financial Group lowered Rallybio from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. JMP Securities reiterated a “market outperform” rating and issued a $8.00 price target on shares of Rallybio in a research report on Wednesday, March 13th. Wedbush decreased their price target on Rallybio from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Evercore ISI reduced their price objective on Rallybio from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Thursday, December 21st. Finally, HC Wainwright reduced their price objective on Rallybio from $12.00 to $9.00 and set a “buy” rating for the company in a research note on Wednesday, March 13th.

View Our Latest Stock Analysis on Rallybio

Institutional Investors Weigh In On Rallybio

Several hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp raised its stake in shares of Rallybio by 145.6% during the 1st quarter. Bank of New York Mellon Corp now owns 41,688 shares of the company’s stock worth $291,000 after purchasing an additional 24,711 shares in the last quarter. Rhumbline Advisers acquired a new position in Rallybio in the first quarter worth approximately $91,000. BlackRock Inc. raised 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 acquiring an additional 426,656 shares in the last quarter. Vanguard Group Inc. lifted its stake in Rallybio by 122.0% in the first quarter. Vanguard Group Inc. now owns 710,049 shares of the company’s stock valued at $4,956,000 after acquiring an additional 390,170 shares during the last quarter. Finally, American International Group Inc. grew its position in Rallybio by 134.9% in the first quarter. American International Group Inc. now owns 8,984 shares of the company’s stock worth $63,000 after acquiring an additional 5,160 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Rallybio Stock Down 3.2 %

NASDAQ:RLYB opened at $1.79 on Thursday. Rallybio has a 1-year low of $1.23 and a 1-year high of $9.14. The firm has a market capitalization of $67.68 million, a price-to-earnings ratio of -0.97 and a beta of -1.64. The stock has a fifty day simple moving average of $1.71 and a 200 day simple moving average of $2.55.

Rallybio Company Profile

(Get Free Report

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.

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Analyst Recommendations for Rallybio (NASDAQ:RLYB)

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