Rallybio (NASDAQ:RLYB) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Rallybio (NASDAQ:RLYBFree Report) from an overweight rating to a neutral rating in a report released on Wednesday, Marketbeat reports.

Other equities analysts have also recently issued research reports about the stock. Wedbush decreased their price objective on shares of Rallybio from $13.00 to $11.00 and set an outperform rating on the stock in a research report on Thursday, April 11th. JMP Securities reiterated a market outperform rating and issued a $8.00 price objective on shares of Rallybio in a report on Thursday, April 18th. HC Wainwright reissued a buy rating and set a $9.00 target price on shares of Rallybio in a research note on Friday, May 10th. Finally, Jefferies Financial Group lowered Rallybio from a buy rating to a hold rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Rallybio has an average rating of Moderate Buy and an average price target of $12.20.

Get Our Latest Stock Analysis on RLYB

Rallybio Trading Down 4.8 %

RLYB opened at $1.77 on Wednesday. The stock has a 50-day moving average price of $1.77 and a 200-day moving average price of $2.08. Rallybio has a 12-month low of $1.23 and a 12-month high of $9.14.

Rallybio (NASDAQ:RLYBGet Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.03. On average, research analysts anticipate that Rallybio will post -1.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. abrdn plc bought a new position in Rallybio in the fourth quarter worth approximately $4,128,000. Vanguard Group Inc. raised its holdings in Rallybio by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after purchasing an additional 12,801 shares during the period. Financial Security Advisor Inc. purchased a new position in Rallybio during the third quarter valued at $169,000. Acadian Asset Management LLC bought a new stake in Rallybio during the first quarter valued at about $57,000. Finally, SG Americas Securities LLC purchased a new stake in Rallybio in the fourth quarter worth about $40,000. Institutional investors own 90.34% of the company’s stock.

About Rallybio

(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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