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

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

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

Rallybio Stock Down 3.9 %

Rallybio stock opened at $0.25 on Tuesday. Rallybio has a 12 month low of $0.22 and a 12 month high of $2.00. The stock has a market cap of $10.48 million, a P/E ratio of -0.16 and a beta of -1.35. The company’s fifty day simple moving average is $0.61 and its 200-day simple moving average is $0.87.

Rallybio (NASDAQ:RLYB) last issued its earnings results on Thursday, March 13th. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. The firm had revenue of $0.04 million during the quarter, compared to analysts’ expectations of $0.15 million. On average, equities research analysts expect that Rallybio will post -1.34 earnings per share for the current fiscal year.

Institutional Trading of Rallybio

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

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.