Research Analysts Offer Predictions for Rallybio Co.’s Q1 2024 Earnings (NASDAQ:RLYB)

Rallybio Co. (NASDAQ:RLYB) – Investment analysts at Wedbush boosted their Q1 2024 earnings estimates for shares of Rallybio in a research report issued to clients and investors on Thursday, April 11th. Wedbush analyst L. Chico now expects that the company will post earnings of ($0.37) per share for the quarter, up from their prior estimate of ($0.40). Wedbush currently has a “Outperform” rating and a $11.00 target price on the stock. The consensus estimate for Rallybio’s current full-year earnings is ($1.52) per share. Wedbush also issued estimates for Rallybio’s Q2 2024 earnings at ($0.30) EPS, Q3 2024 earnings at ($0.33) EPS, Q4 2024 earnings at ($0.29) EPS, FY2024 earnings at ($1.29) EPS, FY2025 earnings at ($1.25) EPS, FY2026 earnings at ($1.23) EPS, FY2027 earnings at ($1.35) EPS and FY2028 earnings at ($0.84) EPS.

RLYB has been the topic of several other reports. Evercore ISI cut their target price on shares of Rallybio from $18.00 to $15.00 and set an “outperform” rating on the stock in a research note on Thursday, December 21st. Jefferies Financial Group downgraded shares of Rallybio from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. JMP Securities reiterated a “market outperform” rating and set a $8.00 price target on shares of Rallybio in a report on Wednesday, March 13th. Finally, HC Wainwright lowered their price target on shares of Rallybio from $12.00 to $9.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Rallybio has an average rating of “Moderate Buy” and an average price target of $12.20.

Rallybio Stock Down 1.6 %

Shares of RLYB opened at $1.80 on Monday. Rallybio has a fifty-two week low of $1.23 and a fifty-two week high of $9.14. The firm’s 50 day moving average price is $1.81 and its 200 day moving average price is $2.35. The company has a market cap of $68.06 million, a P/E ratio of -0.98 and a beta of -1.64.

Rallybio (NASDAQ:RLYB) last released its quarterly earnings results on Tuesday, March 12th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.44) by ($0.06).

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Royal Bank of Canada raised its position in Rallybio by 312.9% in the 2nd quarter. Royal Bank of Canada now owns 4,348 shares of the company’s stock valued at $25,000 after purchasing an additional 3,295 shares during the last quarter. UBS Group AG raised its position in Rallybio by 463.6% in the 4th quarter. UBS Group AG now owns 4,892 shares of the company’s stock valued at $32,000 after purchasing an additional 4,024 shares during the last quarter. Barclays PLC raised its position in Rallybio by 631.7% in the 4th quarter. Barclays PLC now owns 4,946 shares of the company’s stock valued at $33,000 after purchasing an additional 4,270 shares during the last quarter. California State Teachers Retirement System raised its position in Rallybio by 124.8% in the 1st quarter. California State Teachers Retirement System now owns 7,694 shares of the company’s stock valued at $54,000 after purchasing an additional 4,272 shares during the last quarter. Finally, American International Group Inc. raised its position in Rallybio by 134.9% during the 1st quarter. American International Group Inc. now owns 8,984 shares of the company’s stock worth $63,000 after buying an additional 5,160 shares during the last quarter. 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.