Rallybio’s (RLYB) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rallybio (NASDAQ:RLYB) in a research report released on Tuesday,Benzinga reports. The brokerage currently has a $5.00 price target on the stock.

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

Rallybio Price Performance

Shares of Rallybio stock opened at $1.06 on Tuesday. Rallybio has a 1-year low of $0.95 and a 1-year high of $3.46. The stock has a market cap of $43.98 million, a P/E ratio of -0.66 and a beta of -1.55. The stock’s 50 day simple moving average is $1.06 and its 200-day simple moving average is $1.23.

Hedge Funds Weigh In On Rallybio

Several large investors have recently modified their holdings of RLYB. Geode Capital Management LLC raised its holdings in Rallybio by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after buying an additional 24,980 shares during the period. FMR LLC raised its stake in shares of Rallybio by 1.1% in the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock valued at $2,709,000 after acquiring an additional 25,422 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rallybio in the 2nd quarter worth approximately $61,000. Almitas Capital LLC purchased a new position in shares of Rallybio during the 2nd quarter worth approximately $135,000. Finally, Hsbc Holdings PLC acquired a new stake in Rallybio in the 2nd quarter valued at approximately $25,000. 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.