Rallybio (NASDAQ:RLYB) Price Target Cut to $13.00 by Analysts at Wedbush

Rallybio (NASDAQ:RLYBFree Report) had its price target trimmed by Wedbush from $14.00 to $13.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an outperform rating on the stock. Wedbush also issued estimates for Rallybio’s FY2028 earnings at ($0.88) EPS.

RLYB has been the topic of a number of other research reports. Evercore ISI decreased their target price on shares of Rallybio from $18.00 to $15.00 and set an outperform rating on the stock in a report on Thursday, December 21st. Jefferies Financial Group lowered shares of Rallybio from a buy rating to a hold rating in a report on Wednesday. Finally, HC Wainwright decreased their target price on shares of Rallybio from $17.00 to $12.00 and set a buy rating on the stock in a report on Wednesday. One investment 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, the company has an average rating of Moderate Buy and a consensus price target of $13.20.

Check Out Our Latest Stock Report on RLYB

Rallybio Stock Performance

Shares of RLYB stock opened at $1.69 on Wednesday. The firm’s 50 day moving average is $2.13 and its 200 day moving average is $3.58. Rallybio has a 12 month low of $1.23 and a 12 month high of $9.88.

Rallybio (NASDAQ:RLYBGet Free Report) last announced 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. On average, equities research analysts predict that Rallybio will post -1.82 earnings per share for the current year.

Hedge Funds Weigh In On Rallybio

A number of institutional investors have recently made changes to their positions in RLYB. abrdn plc bought a new position in shares of Rallybio in the 4th quarter worth $4,128,000. BlackRock Inc. grew its holdings in shares of Rallybio by 77.5% during the 2nd quarter. BlackRock Inc. now owns 1,653,859 shares of the company’s stock valued at $9,361,000 after purchasing an additional 722,364 shares during the last quarter. Novo Holdings A S bought a new position in shares of Rallybio during the 1st quarter valued at $3,043,000. Vanguard Group Inc. grew its holdings in shares of Rallybio by 122.0% during the 1st 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 during the last quarter. Finally, Laurion Capital Management LP grew its holdings in shares of Rallybio by 94.8% during the 4th quarter. Laurion Capital Management LP now owns 783,291 shares of the company’s stock valued at $5,146,000 after purchasing an additional 381,291 shares during the last quarter. Institutional investors 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).

Further Reading

Analyst Recommendations for Rallybio (NASDAQ:RLYB)

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