Rallybio (NASDAQ:RLYB – Free Report) had its target price lowered by HC Wainwright from $17.00 to $12.00 in a research note issued to investors on Wednesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.
RLYB has been the subject of several other research reports. Jefferies Financial Group cut Rallybio from a buy rating to a hold rating in a research note on Wednesday. Wedbush decreased their target price on Rallybio from $16.00 to $14.00 and set an outperform rating for the company in a research note on Friday, November 10th. Finally, Evercore ISI decreased their target price on Rallybio from $18.00 to $15.00 and set an outperform rating for the company in a research note on Thursday, December 21st. One 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, the stock has an average rating of Moderate Buy and a consensus target price of $13.20.
Rallybio Trading Up 9.0 %
Rallybio (NASDAQ:RLYB – Get Free Report) last posted its earnings results on Thursday, November 9th. The company reported ($0.45) EPS for the quarter, beating the consensus estimate of ($0.51) by $0.06. As a group, equities analysts predict that Rallybio will post -1.82 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Rallybio
A number of hedge funds have recently added to or reduced their stakes in RLYB. Bank of New York Mellon Corp grew its stake in Rallybio by 145.6% in the first 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 period. Rhumbline Advisers bought a new position in shares of Rallybio in the first quarter valued at approximately $91,000. BlackRock Inc. lifted its holdings in shares of Rallybio by 88.6% in the first quarter. BlackRock Inc. now owns 908,164 shares of the company’s stock valued at $6,339,000 after purchasing an additional 426,656 shares in the last quarter. 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 purchasing an additional 390,170 shares in the last quarter. 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 purchasing an additional 5,160 shares in the last quarter. Institutional investors and hedge funds own 87.99% of the company’s stock.
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).
- Five stocks we like better than Rallybio
- How Can Retail Investors Trade the Toronto Stock Exchange (TSX)?
- Can Etsy stock craft rebound with support from big investor?
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- 3 education stocks breaking out on a hiring spree
- With Risk Tolerance, One Size Does Not Fit All
- e.l.f. Beauty on a shelf; a good time to buy
Receive News & Ratings for Rallybio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rallybio and related companies with MarketBeat.com's FREE daily email newsletter.