- Rallybio (RLYB, Financial) stock jumps 114% in premarket trading following a strategic deal announcement.
- The company secures a $7.5 million upfront payment and additional milestone opportunities.
- Wall Street sees potential upside of nearly 194% for Rallybio shares.
In a notable market move, Rallybio (RLYB) shares skyrocketed by about 114% in premarket trading. This spike comes on the heels of the company's announcement to sell its stake in REV102 to Recursion Pharmaceuticals (RXRX). The lucrative deal promises a $7.5 million upfront equity payment alongside potential milestone payments, effectively stretching Rallybio's financial runway through mid-2027.
Wall Street Analysts' Expectations
The outlook from Wall Street analysts paints a promising picture for Rallybio Corp (RLYB, Financial). Based on the one-year price targets set by a single analyst, the average target price stands firmly at $1.00, with both the high and low estimates anchoring at the same figure. This projection suggests a noteworthy upside potential of 193.77% from the current share price of $0.34. For further insights, visit the Rallybio Corp (RLYB) Forecast page.
When interpreting the consensus recommendation from four brokerage firms, Rallybio Corp (RLYB, Financial) holds an average recommendation rating of 2.8, which corresponds to a "Hold" status. This rating is derived from a scale where 1 signifies Strong Buy, and 5 indicates Sell.
The strategic sale and ensuing financial boost position Rallybio well for future endeavors, with analysts keenly observing how the company will leverage its strengthened financial runway.
