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 per share (EPS) estimates for shares of Rallybio in a research note issued on Thursday, April 11th. Wedbush analyst L. Chico now anticipates that the company will post earnings of ($0.37) per share for the quarter, up from their previous 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.

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

Several other research firms have also recently weighed in on RLYB. HC Wainwright cut their price objective on Rallybio from $12.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, March 13th. Evercore ISI cut their target price on 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 cut Rallybio from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Finally, JMP Securities restated a “market outperform” rating and issued a $8.00 target price on shares of Rallybio in a research note on Wednesday, March 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Rallybio currently has an average rating of “Moderate Buy” and a consensus target price of $12.20.

Rallybio Price Performance

NASDAQ: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 stock has a market capitalization of $68.06 million, a PE ratio of -0.98 and a beta of -1.64. The business’s 50-day simple moving average is $1.81 and its 200-day simple moving average is $2.35.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its position in shares of Rallybio by 312.9% during the 2nd quarter. Royal Bank of Canada now owns 4,348 shares of the company’s stock worth $25,000 after purchasing an additional 3,295 shares during the last quarter. UBS Group AG increased its holdings in shares of Rallybio by 463.6% during the 4th quarter. UBS Group AG now owns 4,892 shares of the company’s stock worth $32,000 after acquiring an additional 4,024 shares during the last quarter. Barclays PLC increased its holdings in shares of Rallybio by 631.7% during the 4th quarter. Barclays PLC now owns 4,946 shares of the company’s stock worth $33,000 after acquiring an additional 4,270 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Rallybio during the 4th quarter worth approximately $34,000. Finally, SG Americas Securities LLC acquired a new position in shares of Rallybio during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds 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.