Rallybio price target lowered to $16 from $26 at JMP Securities

JMP Securities analyst Jonathan Wolleben lowered the firm’s price target on Rallybio to $16 from $26 and keeps an Outperform rating on the shares. New Phase 1b data provides further proof-of-concept support for RLYB212 in fetal and neonatal alloimmune thrombocytopenia, or FNAIT, and management provided new details on the development plan, which should give more confidence in the pivotal success of the trial, the analyst tells investors in a research note.