Rallybio (NASDAQ:RLYB) Rating Lowered to Hold at Jefferies Financial Group

Rallybio (NASDAQ:RLYBGet Free Report) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Wednesday, MarketBeat.com reports.

Other analysts also recently issued reports about the company. Wedbush reduced their price objective on Rallybio from $16.00 to $14.00 and set an “outperform” rating on the stock in a research report on Friday, November 10th. HC Wainwright reiterated a “buy” rating and set a $17.00 target price on shares of Rallybio in a research report on Wednesday, November 29th. Finally, Evercore ISI reduced their target price on Rallybio from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Thursday, December 21st. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Rallybio presently has an average rating of “Moderate Buy” and an average price target of $13.20.

View Our Latest Stock Analysis on Rallybio

Rallybio Stock Down 6.2 %

Shares of NASDAQ:RLYB traded down $0.11 on Wednesday, hitting $1.66. The company had a trading volume of 317,646 shares, compared to its average volume of 296,046. Rallybio has a 52-week low of $1.23 and a 52-week high of $9.88. The business has a 50 day moving average of $2.12 and a 200 day moving average of $3.50.

Rallybio (NASDAQ:RLYBGet Free Report) last issued its quarterly earnings data on Thursday, November 9th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.06. As a group, equities research analysts forecast that Rallybio will post -1.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in RLYB. Bank of New York Mellon Corp increased its holdings in shares of Rallybio by 145.6% in the 1st quarter. Bank of New York Mellon Corp now owns 41,688 shares of the company’s stock valued at $291,000 after acquiring an additional 24,711 shares during the last quarter. Rhumbline Advisers acquired a new position in Rallybio during the 1st quarter worth $91,000. BlackRock Inc. boosted its position in Rallybio by 88.6% during the 1st quarter. BlackRock Inc. now owns 908,164 shares of the company’s stock worth $6,339,000 after acquiring an additional 426,656 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Rallybio by 122.0% in the first quarter. Vanguard Group Inc. now owns 710,049 shares of the company’s stock valued at $4,956,000 after buying an additional 390,170 shares during the period. Finally, American International Group Inc. lifted its holdings in shares of Rallybio by 134.9% in the first quarter. American International Group Inc. now owns 8,984 shares of the company’s stock valued at $63,000 after buying an additional 5,160 shares during the period. Institutional investors and hedge funds own 87.99% of the company’s stock.

Rallybio Company Profile

(Get Free Report)

Rallybio Corporation, a clinical-stage biotechnology company, engages in identifying, accelerating, and development 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 is in Phase I clinical trial for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT).

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Analyst Recommendations for Rallybio (NASDAQ:RLYB)

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