Jones Trading Reiterates Hold Rating for Rallybio (NASDAQ:RLYB)

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

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

Rallybio Stock Up 8.0 %

Shares of NASDAQ:RLYB opened at $0.27 on Tuesday. The company’s fifty day moving average is $0.63 and its 200 day moving average is $0.88. Rallybio has a 52 week low of $0.22 and a 52 week high of $2.01. The stock has a market cap of $11.24 million, a PE ratio of -0.17 and a beta of -1.35.

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

Institutional Trading of Rallybio

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Northeast Financial Consultants Inc lifted its holdings 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 purchasing an additional 74,334 shares during the last quarter. Geode Capital Management LLC raised its stake in Rallybio by 11.4% during the third quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after buying an additional 24,980 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Rallybio by 9.3% in the fourth quarter. Renaissance Technologies LLC now owns 441,318 shares of the company’s stock worth $424,000 after acquiring an additional 37,618 shares in the last quarter. Allostery Investments LP purchased a new stake in shares of Rallybio in the fourth quarter worth $771,000. Finally, Almitas Capital LLC increased its holdings 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 valued at $1,246,000 after acquiring an additional 422,685 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other 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.