Rallybio (NASDAQ:RLYB) Receives “Market Outperform” Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Rallybio (NASDAQ:RLYB) in a report issued on Thursday, Benzinga reports. They currently have a $8.00 price objective on the stock.

RLYB has been the subject of a number of other reports. HC Wainwright cut their price target on Rallybio from $12.00 to $9.00 and set a buy rating for the company in a report on Wednesday, March 13th. Jefferies Financial Group lowered Rallybio from a buy rating to a hold rating in a research note on Wednesday, February 7th. Evercore ISI cut 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. Finally, Wedbush cut their target price on Rallybio from $13.00 to $11.00 and set an outperform rating for the company in a research note on Thursday, April 11th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $12.20.

Rallybio Stock Performance

RLYB opened at $1.67 on Thursday. The business has a 50 day moving average price of $1.81 and a 200 day moving average price of $2.34. Rallybio has a twelve month low of $1.23 and a twelve month high of $9.14.

Rallybio (NASDAQ:RLYB) last posted its earnings results on Tuesday, March 12th. The company reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.44) by ($0.06). On average, research analysts expect that Rallybio will post -1.52 earnings per share for the current fiscal year.

Institutional Trading of Rallybio

A number of large investors have recently bought and sold shares of RLYB. Vanguard Group Inc. grew its holdings in shares of Rallybio by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 1,063,970 shares of the company’s stock worth $2,543,000 after purchasing an additional 14,139 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Rallybio by 31.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 19,018 shares of the company’s stock worth $45,000 after purchasing an additional 4,524 shares during the last quarter. Blue Owl Capital Holdings LP bought a new stake in shares of Rallybio during the fourth quarter worth $837,000. Barclays PLC grew its holdings in shares of Rallybio by 834.2% during the fourth quarter. Barclays PLC now owns 57,479 shares of the company’s stock worth $138,000 after purchasing an additional 51,326 shares during the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Rallybio by 56.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 128,500 shares of the company’s stock worth $307,000 after purchasing an additional 46,500 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

About Rallybio

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.