Rallybio (NASDAQ:RLYB) Issues Earnings Results

Rallybio (NASDAQ:RLYB) announced its quarterly earnings results on Thursday. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.11, Zacks reports. Rallybio had a negative return on equity of 68.00% and a negative net margin of 2,102.37%.The firm had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $0.07 million.

Rallybio Stock Down 2.1%

Shares of Rallybio stock traded down $0.01 on Friday, hitting $0.63. The stock had a trading volume of 121,744 shares, compared to its average volume of 265,750. Rallybio has a one year low of $0.22 and a one year high of $1.24. The stock’s 50-day simple moving average is $0.58 and its two-hundred day simple moving average is $0.47. The stock has a market cap of $26.13 million, a price-to-earnings ratio of -1.95 and a beta of -1.05.

Analysts Set New Price Targets

RLYB has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Rallybio in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of Rallybio from a “hold” rating to a “sell” rating in a report on Sunday, October 12th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $5.00.

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.