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

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

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

Rallybio Stock Down 6.2 %

Rallybio stock opened at $1.06 on Tuesday. The company’s 50 day moving average is $1.06 and its two-hundred day moving average is $1.23. The firm has a market cap of $43.98 million, a PE ratio of -0.66 and a beta of -1.55. Rallybio has a 52-week low of $0.95 and a 52-week high of $3.46.

Institutional Investors Weigh In On Rallybio

Institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new stake in Rallybio during the second quarter worth approximately $25,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Rallybio in the 2nd quarter valued at $61,000. Acadian Asset Management LLC raised its stake in 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 acquiring an additional 36,401 shares in the last quarter. Almitas Capital LLC purchased a new stake in Rallybio in the second quarter valued at $135,000. Finally, Geode Capital Management LLC boosted its stake in 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 acquiring an additional 24,980 shares in 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.