HC Wainwright Cuts Rallybio (NASDAQ:RLYB) Price Target to $5.00

Rallybio (NASDAQ:RLYB) had its target price reduced by HC Wainwright from $6.00 to $5.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Separately, Evercore ISI restated an “outperform” rating and set a $15.00 price objective on shares of Rallybio in a research report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $9.75.

Rallybio Price Performance

Shares of NASDAQ RLYB opened at $1.00 on Friday. The stock has a market capitalization of $41.49 million, a PE ratio of -0.62 and a beta of -1.67. The business has a fifty day moving average price of $1.08 and a two-hundred day moving average price of $1.32. Rallybio has a fifty-two week low of $0.96 and a fifty-two week high of $3.46.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.05. The business had revenue of $0.30 million during the quarter. On average, equities analysts expect that Rallybio will post -1.45 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Rallybio by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock valued at $1,992,000 after purchasing an additional 12,801 shares during the period. Acadian Asset Management LLC bought a new stake in Rallybio during the 1st quarter worth approximately $57,000. Johnson & Johnson bought a new stake in Rallybio during the 2nd quarter worth approximately $4,873,000. Hsbc Holdings PLC bought a new position in shares of Rallybio in the second quarter valued at approximately $25,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Rallybio in the second quarter valued at approximately $61,000. 90.34% of the stock is owned by institutional investors and hedge funds.

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.