HC Wainwright Reiterates “Buy” Rating for Rallybio (NASDAQ:RLYB)

HC Wainwright reaffirmed their buy rating on shares of Rallybio (NASDAQ:RLYB) in a report published on Tuesday morning, Benzinga reports. HC Wainwright currently has a $6.00 price target on the stock.

RLYB has been the topic of several other reports. Evercore ISI reaffirmed an outperform rating and issued a $15.00 price objective on shares of Rallybio in a research report on Monday, August 26th. JPMorgan Chase & Co. cut shares of Rallybio from an overweight rating to a neutral rating in a research report on Wednesday, May 15th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $10.00.

Rallybio Stock Down 0.9 %

Shares of NASDAQ RLYB opened at $1.10 on Tuesday. The company’s fifty day moving average is $1.24 and its 200-day moving average is $1.55. The stock has a market cap of $45.59 million, a price-to-earnings ratio of -0.59 and a beta of -1.71. Rallybio has a twelve month low of $1.09 and a twelve month high of $5.96.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.05. The firm had revenue of $0.30 million for the quarter. On average, research analysts anticipate that Rallybio will post -1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Rallybio

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Johnson & Johnson bought a new stake in Rallybio during the 2nd quarter worth about $4,873,000. Vanguard Group Inc. increased its stake in shares of Rallybio by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after purchasing an additional 12,801 shares during the last quarter. Almitas Capital LLC acquired a new position in shares of Rallybio during the 2nd quarter worth about $135,000. Acadian Asset Management LLC increased its stake in shares of Rallybio by 116.3% during 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 last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rallybio during the 2nd quarter worth about $61,000. 90.34% of the stock is 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.