Citizens Jmp Downgrades Rallybio (NASDAQ:RLYB) to Hold

Rallybio (NASDAQ:RLYB) was downgraded by equities researchers at Citizens Jmp from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Separately, HC Wainwright reiterated a “neutral” rating on shares of Rallybio in a report on Wednesday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.75.

Rallybio Price Performance

Shares of RLYB traded up $0.00 during trading hours on Tuesday, hitting $0.25. The stock had a trading volume of 110,707 shares, compared to its average volume of 92,134. Rallybio has a 1-year low of $0.22 and a 1-year high of $3.46. The firm has a market capitalization of $10.49 million, a P/E ratio of -0.16 and a beta of -1.35. The firm has a 50 day simple moving average of $0.67 and a 200-day simple moving average of $0.90.

Rallybio (NASDAQ:RLYB) last released its quarterly earnings data on Thursday, March 13th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.02. The firm had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.15 million. Equities analysts predict that Rallybio will post -1.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Rallybio

Several institutional investors and hedge funds have recently added to or reduced their stakes in RLYB. Northeast Financial Consultants Inc grew its holdings in shares of Rallybio by 336.5% in the fourth quarter. Northeast Financial Consultants Inc now owns 96,422 shares of the company’s stock valued at $93,000 after acquiring an additional 74,334 shares in the last quarter. Geode Capital Management LLC grew its stake in Rallybio by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after purchasing an additional 24,980 shares during the period. Renaissance Technologies LLC increased its position in shares of Rallybio by 9.3% during the 4th quarter. Renaissance Technologies LLC now owns 441,318 shares of the company’s stock valued at $424,000 after purchasing an additional 37,618 shares during the last quarter. Allostery Investments LP bought a new stake in shares of Rallybio during the 4th quarter worth $771,000. Finally, Almitas Capital LLC boosted its holdings in shares of Rallybio by 48.3% in the 4th quarter. Almitas Capital LLC now owns 1,298,119 shares of the company’s stock worth $1,246,000 after buying an additional 422,685 shares during the last quarter. Hedge funds and other institutional investors 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.