Rallybio (NASDAQ:RLYB – Get Free Report)‘s stock had its “market outperform” rating reaffirmed by stock analysts at JMP Securities in a research report 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 359.77% from the stock’s previous close.
Several other research firms also recently commented on RLYB. Wedbush decreased their target price on shares of Rallybio from $13.00 to $11.00 and set an “outperform” rating for the company in a research report on Thursday, April 11th. Evercore ISI reduced their target price on shares of Rallybio from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, December 21st. Jefferies Financial Group downgraded shares of Rallybio from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Finally, HC Wainwright dropped their price target on shares of Rallybio from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rallybio currently has an average rating of “Moderate Buy” and a consensus price target of $12.20.
View Our Latest Analysis on Rallybio
Rallybio Stock Performance
Rallybio (NASDAQ:RLYB – Get Free Report) last released its earnings results on Tuesday, March 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.44) by ($0.06). Analysts predict that Rallybio will post -1.52 EPS for the current fiscal year.
Institutional Investors Weigh In On Rallybio
Large investors have recently modified their holdings of the stock. abrdn plc bought a new position in shares of Rallybio in the fourth quarter worth approximately $4,128,000. BlackRock Inc. increased its stake in shares of Rallybio by 77.5% in the second quarter. BlackRock Inc. now owns 1,653,859 shares of the company’s stock worth $9,361,000 after purchasing an additional 722,364 shares in the last quarter. Novo Holdings A S bought a new position in shares of Rallybio during the first quarter worth $3,043,000. Vanguard Group Inc. boosted its position in shares of Rallybio by 122.0% during the first quarter. Vanguard Group Inc. now owns 710,049 shares of the company’s stock worth $4,956,000 after acquiring an additional 390,170 shares during the last quarter. Finally, Laurion Capital Management LP boosted its position in shares of Rallybio by 94.8% during the fourth quarter. Laurion Capital Management LP now owns 783,291 shares of the company’s stock worth $5,146,000 after acquiring an additional 381,291 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.
Rallybio Company Profile
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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