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

HC Wainwright reiterated their buy rating on shares of Rallybio (NASDAQ:RLYB) in a research report report published on Wednesday morning, Benzinga reports. They currently have a $6.00 target price on the stock.

Separately, Evercore ISI reiterated an “outperform” rating and issued a $15.00 target price on shares of Rallybio in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Rallybio presently has an average rating of “Moderate Buy” and a consensus target price of $10.00.

Rallybio Stock Down 1.9 %

Rallybio stock opened at $1.01 on Wednesday. The stock has a market cap of $41.90 million, a PE ratio of -0.56 and a beta of -1.70. The business’s 50-day moving average price is $1.10 and its two-hundred day moving average price is $1.35. Rallybio has a 12-month low of $0.96 and a 12-month high of $4.45.

Rallybio (NASDAQ:RLYB) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.42) by $0.05. The firm had revenue of $0.30 million for the quarter. As a group, analysts expect that Rallybio will post -1.45 earnings per share for the current year.

Hedge Funds Weigh In On Rallybio

Institutional investors have recently modified their holdings of the company. Hsbc Holdings PLC acquired a new position in shares of Rallybio during the second quarter worth approximately $25,000. Acadian Asset Management LLC acquired a new position in shares of Rallybio during the first quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rallybio during the second quarter worth approximately $61,000. Almitas Capital LLC bought a new stake in Rallybio during the second quarter worth $135,000. Finally, Vanguard Group Inc. grew its holdings in Rallybio by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after buying an additional 12,801 shares in the last quarter. 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.