Rallybio (NASDAQ:RLYB) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Rallybio (NASDAQ:RLYB) in a research report sent to investors on Monday morning,Benzinga reports. They currently have a $5.00 target price on the stock.

Rallybio Stock Performance

Shares of Rallybio stock opened at $0.92 on Monday. The stock has a market cap of $38.27 million, a price-to-earnings ratio of -0.58 and a beta of -1.48. The stock has a 50 day moving average price of $1.02 and a 200-day moving average price of $1.12. Rallybio has a one year low of $0.84 and a one year high of $3.46.

Hedge Funds Weigh In On Rallybio

Institutional investors and hedge funds have recently modified their holdings of the stock. Hsbc Holdings PLC purchased a new position in shares of Rallybio in the 2nd quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Rallybio in the 2nd quarter worth approximately $61,000. Acadian Asset Management LLC boosted its holdings in shares of Rallybio by 116.3% in the 2nd quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock worth $89,000 after purchasing an additional 36,401 shares during the period. Almitas Capital LLC bought a new stake in shares of Rallybio during the 2nd quarter worth approximately $135,000. Finally, Geode Capital Management LLC lifted its stake in shares of Rallybio by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock worth $287,000 after acquiring an additional 24,980 shares during the last quarter. Hedge funds and other institutional investors 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.