Rallybio Co. (NASDAQ:RLYB) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Rallybio Co. (NASDAQ:RLYB) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $9.75.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price target on shares of Rallybio in a research report on Tuesday, December 3rd.

Rallybio Trading Up 6.3 %

Rallybio stock opened at $1.01 on Friday. The firm has a market capitalization of $41.90 million, a price-to-earnings ratio of -0.63 and a beta of -1.55. The firm’s fifty day moving average price is $1.02 and its two-hundred day moving average price is $1.14. Rallybio has a 1-year low of $0.84 and a 1-year high of $3.46.

Institutional Trading of Rallybio

Several institutional investors and hedge funds have recently made changes to their positions in RLYB. Johnson & Johnson bought a new stake in Rallybio in the 2nd quarter worth about $4,873,000. FMR LLC grew its holdings in shares of Rallybio by 1.1% in the third quarter. FMR LLC now owns 2,315,480 shares of the company’s stock valued at $2,709,000 after acquiring an additional 25,422 shares in the last quarter. Almitas Capital LLC purchased a new stake in shares of Rallybio during the second quarter valued at approximately $135,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Rallybio during the second quarter worth $61,000. Finally, Acadian Asset Management LLC boosted its position in Rallybio by 116.3% in the second quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock worth $89,000 after purchasing an additional 36,401 shares during the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

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.