Rallybio’s (RLYB) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Rallybio (NASDAQ:RLYB) in a research note published on Friday,Benzinga reports. HC Wainwright currently has a $5.00 price objective on the stock.

Separately, Evercore ISI reiterated an “outperform” rating and set a $15.00 price objective 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 issued a buy rating to the company. Based on data from MarketBeat.com, Rallybio currently has an average rating of “Moderate Buy” and an average price target of $9.75.

Rallybio Trading Up 3.2 %

Shares of NASDAQ:RLYB opened at $1.02 on Friday. Rallybio has a 1 year low of $0.95 and a 1 year high of $3.46. The business has a fifty day simple moving average of $1.06 and a 200 day simple moving average of $1.26. The firm has a market cap of $42.32 million, a price-to-earnings ratio of -0.64 and a beta of -1.67.

Hedge Funds Weigh In On Rallybio

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in shares of Rallybio by 11.4% in the third quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after purchasing an additional 24,980 shares during the last quarter. FMR LLC grew its position in shares of Rallybio by 1.1% in the third quarter. FMR LLC now owns 2,315,480 shares of the company’s stock valued at $2,709,000 after purchasing an additional 25,422 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Rallybio in the second quarter valued at about $61,000. Almitas Capital LLC acquired a new stake in shares of Rallybio in the second quarter valued at about $135,000. Finally, Hsbc Holdings PLC acquired a new stake in shares of Rallybio in the second quarter valued at about $25,000. 90.34% of the stock is currently owned by institutional investors.

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.