Analysts Set Rallybio Co. (NASDAQ:RLYB) Price Target at $9.75

Rallybio Co. (NASDAQ:RLYB) has received an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $9.75.

Separately, HC Wainwright reissued a “buy” rating and set a $5.00 price objective on shares of Rallybio in a report on Tuesday, December 3rd.

Rallybio Price Performance

NASDAQ:RLYB opened at $0.96 on Friday. Rallybio has a 1 year low of $0.84 and a 1 year high of $3.46. The stock’s fifty day moving average price is $1.03 and its two-hundred day moving average price is $1.15. The company has a market cap of $39.83 million, a P/E ratio of -0.60 and a beta of -1.55.

Institutional Investors Weigh In On Rallybio

A number of institutional investors and hedge funds have recently bought and sold shares of RLYB. Hsbc Holdings PLC bought a new stake in Rallybio during the second quarter worth about $25,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Rallybio in the 2nd quarter worth approximately $61,000. Acadian Asset Management LLC boosted its stake in Rallybio by 116.3% in the second quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock worth $89,000 after buying an additional 36,401 shares in the last quarter. Almitas Capital LLC bought a new position in Rallybio during the second quarter valued at approximately $135,000. Finally, Geode Capital Management LLC raised its position in Rallybio by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock worth $287,000 after purchasing an additional 24,980 shares during the period. 90.34% of the stock is owned by hedge funds and other institutional investors.

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.