Rallybio (NASDAQ:RLYB) Given New $8.00 Price Target at JMP Securities

Rallybio (NASDAQ:RLYBFree Report) had its price target cut by JMP Securities from $16.00 to $8.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a market outperform rating on the stock.

Several other brokerages also recently commented on RLYB. HC Wainwright lowered their target price on Rallybio from $17.00 to $12.00 and set a buy rating for the company in a research note on Wednesday. Evercore ISI lowered 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. Jefferies Financial Group cut Rallybio from a buy rating to a hold rating in a report on Wednesday. Finally, Wedbush reduced their price target on Rallybio from $14.00 to $13.00 and set an outperform rating on the stock in a report on Wednesday. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $13.20.

Read Our Latest Stock Report on Rallybio

Rallybio Stock Up 9.0 %

RLYB stock opened at $1.69 on Wednesday. The business has a 50-day simple moving average of $2.13 and a 200 day simple moving average of $3.58. Rallybio has a 52 week low of $1.23 and a 52 week high of $9.88.

Rallybio (NASDAQ:RLYBGet Free Report) last posted its quarterly earnings results on Thursday, November 9th. The company reported ($0.45) EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.06. As a group, research analysts forecast that Rallybio will post -1.82 EPS for the current fiscal year.

Institutional Trading of Rallybio

Institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its holdings in Rallybio by 62.0% in the second quarter. American International Group Inc. now owns 14,715 shares of the company’s stock valued at $83,000 after acquiring an additional 5,634 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Rallybio by 45.4% during the 2nd quarter. California State Teachers Retirement System now owns 10,170 shares of the company’s stock worth $58,000 after buying an additional 3,175 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Rallybio during the 1st quarter worth approximately $57,000. Barclays PLC boosted its holdings in shares of Rallybio by 93.6% during the 1st quarter. Barclays PLC now owns 9,577 shares of the company’s stock worth $54,000 after buying an additional 4,631 shares in the last quarter. Finally, Citigroup Inc. bought a new position in shares of Rallybio during the 2nd quarter worth approximately $52,000. 87.99% of the stock is currently owned by institutional investors.

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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