Rallybio price target lowered to $8 from $16 at JMP Securities

JMP Securities lowered the firm’s price target on Rallybio to $8 from $16 and keeps an Outperform rating on the shares. Rallybio plans to cut its workforce by 45%, extending its cash runway into mid-2026, to focus on Fetal and Neonatal Alloimmune Thrombocytopenia candidate RLYB212 and C5 inhibitor RLYB116, the analyst tells investors in a research note. The firm believes management is taking the prudent move to streamline operations and expenses to focus on RLYB212 and RLYB116 and extend its cash runway.