Rallybio (NASDAQ:RLYB) Earns “Hold” Rating from Jones Trading

Rallybio (NASDAQ:RLYB)‘s stock had its “hold” rating reiterated by equities researchers at Jones Trading in a note issued to investors on Tuesday,Benzinga reports.

A number of other research firms have also recently commented on RLYB. Evercore ISI cut Rallybio from a “strong-buy” rating to a “hold” rating in a research report on Sunday. Citizens Jmp lowered shares of Rallybio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 8th. Finally, HC Wainwright reiterated a “neutral” rating on shares of Rallybio in a research report on Wednesday, April 9th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Rallybio presently has a consensus rating of “Hold” and an average target price of $9.33.

Rallybio Price Performance

Rallybio stock opened at $0.27 on Tuesday. Rallybio has a one year low of $0.22 and a one year high of $2.01. The business’s fifty day moving average is $0.63 and its 200 day moving average is $0.88. The stock has a market capitalization of $11.24 million, a PE ratio of -0.17 and a beta of -1.35.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings results on Thursday, March 13th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. The company had revenue of $0.04 million during the quarter, compared to the consensus estimate of $0.15 million. As a group, sell-side analysts expect that Rallybio will post -1.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Rallybio

Hedge funds have recently added to or reduced their stakes in the company. Northeast Financial Consultants Inc boosted its position in shares of Rallybio by 336.5% during the fourth quarter. Northeast Financial Consultants Inc now owns 96,422 shares of the company’s stock valued at $93,000 after buying an additional 74,334 shares during the period. Geode Capital Management LLC boosted its holdings in Rallybio by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after acquiring an additional 24,980 shares during the period. Renaissance Technologies LLC grew its position in Rallybio by 9.3% in the 4th quarter. Renaissance Technologies LLC now owns 441,318 shares of the company’s stock valued at $424,000 after acquiring an additional 37,618 shares during the last quarter. Allostery Investments LP purchased a new stake in Rallybio in the fourth quarter worth $771,000. Finally, Almitas Capital LLC lifted its position in shares of Rallybio by 48.3% during the fourth quarter. Almitas Capital LLC now owns 1,298,119 shares of the company’s stock worth $1,246,000 after purchasing an additional 422,685 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

Rallybio Company Profile

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.