Rallybio’s (RLYB) “Outperform” Rating Reaffirmed at Evercore ISI

Rallybio (NASDAQ:RLYB)‘s stock had its “outperform” rating restated by analysts at Evercore ISI in a research note issued to investors on Monday, Benzinga reports. They currently have a $15.00 price target on the stock.

Several other analysts also recently weighed in on the stock. HC Wainwright decreased their price target on shares of Rallybio from $9.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, August 12th. JPMorgan Chase & Co. lowered Rallybio from an “overweight” rating to a “neutral” rating in a research report on Wednesday, May 15th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Rallybio Trading Up 6.1 %

Shares of RLYB stock traded up $0.07 on Monday, reaching $1.20. 10,898 shares of the company’s stock were exchanged, compared to its average volume of 745,904. The company’s fifty day simple moving average is $1.29 and its 200 day simple moving average is $1.60. The stock has a market capitalization of $49.71 million, a PE ratio of -0.61 and a beta of -1.69. Rallybio has a 52 week low of $1.09 and a 52 week high of $5.96.

Rallybio (NASDAQ:RLYB) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. The company had revenue of $0.30 million during the quarter. As a group, sell-side analysts predict that Rallybio will post -1.45 earnings per share for the current fiscal year.

Institutional Trading of Rallybio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RLYB. abrdn plc purchased a new position in shares of Rallybio in the fourth quarter worth about $4,128,000. Vanguard Group Inc. raised its position in Rallybio by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after buying an additional 12,801 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Rallybio in the first quarter worth $57,000. Johnson & Johnson acquired a new position in Rallybio during the second quarter valued at $4,873,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Rallybio during the 2nd quarter valued at about $25,000. Institutional investors and hedge funds 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.