Rallybio (NASDAQ:RLYB) Stock Rating Lowered by Evercore ISI

Rallybio (NASDAQ:RLYB) was downgraded by analysts at Evercore ISI from a “strong-buy” rating to a “hold” rating in a report issued on Sunday,Zacks.com reports.

RLYB has been the subject of several other reports. Citizens Jmp downgraded Rallybio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 8th. HC Wainwright reaffirmed a “neutral” rating on shares of Rallybio in a report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Rallybio has an average rating of “Hold” and an average target price of $9.33.

Rallybio Price Performance

Shares of Rallybio stock opened at $0.27 on Friday. Rallybio has a 12 month low of $0.22 and a 12 month high of $2.01. The stock has a market capitalization of $11.24 million, a price-to-earnings ratio of -0.17 and a beta of -1.35. The firm’s fifty day simple moving average is $0.63 and its 200-day simple moving average is $0.88.

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

Institutional Trading of Rallybio

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Rallybio by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock worth $287,000 after buying an additional 24,980 shares in the last quarter. Northeast Financial Consultants Inc lifted its holdings in shares of Rallybio by 336.5% in 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 in the last quarter. Renaissance Technologies LLC grew its position in shares of Rallybio by 9.3% in the fourth 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 last quarter. Almitas Capital LLC increased its stake in shares of Rallybio by 48.3% during the 4th 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 in the last quarter. Finally, Allostery Investments LP acquired a new position in shares of Rallybio during the 4th quarter worth approximately $771,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

About Rallybio

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.