Rallybio (NASDAQ:RLYB) Stock Price Down 11.8%

Shares of Rallybio Co. (NASDAQ:RLYB) fell 11.8% during trading on Tuesday . The stock traded as low as $1.16 and last traded at $1.20. 714,816 shares traded hands during trading, a decline of 24% from the average session volume of 943,522 shares. The stock had previously closed at $1.36.

Analysts Set New Price Targets

A number of research firms recently weighed in on RLYB. HC Wainwright reiterated a “buy” rating and issued a $9.00 price target on shares of Rallybio in a report on Friday, May 10th. Wedbush dropped their price objective on Rallybio from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Thursday, April 11th. JPMorgan Chase & Co. lowered shares of Rallybio from an “overweight” rating to a “neutral” rating in a research report on Wednesday, May 15th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $8.00 price target on shares of Rallybio in a research report on Thursday, April 18th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rallybio presently has a consensus rating of “Moderate Buy” and an average target price of $12.20.

Rallybio Stock Up 6.7 %

The firm has a market cap of $53.06 million, a P/E ratio of -0.68 and a beta of -1.69. The firm’s fifty day moving average is $1.62 and its two-hundred day moving average is $1.78.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.03. As a group, sell-side analysts forecast that Rallybio Co. will post -1.42 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new position in shares of Rallybio during the first quarter worth $57,000. Vanguard Group Inc. lifted its stake in Rallybio by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after purchasing an additional 12,801 shares in the last quarter. abrdn plc bought a new position in shares of Rallybio during the 4th quarter valued at about $4,128,000. Finally, SG Americas Securities LLC purchased a new position in shares of Rallybio during the fourth quarter valued at about $40,000. Institutional investors own 90.34% of the company’s stock.

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.