Rallybio (NASDAQ:RLYB) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Rallybio (NASDAQ:RLYB) in a research note published on Tuesday, Benzinga reports. The firm currently has a $6.00 price objective on the stock.

Separately, Evercore ISI restated an outperform rating and issued a $15.00 price target on shares of Rallybio in a research 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 company. According to MarketBeat.com, Rallybio has a consensus rating of Moderate Buy and a consensus target price of $10.00.

Rallybio Stock Performance

Shares of NASDAQ RLYB opened at $1.11 on Tuesday. Rallybio has a 52-week low of $1.08 and a 52-week high of $4.60. The firm has a 50 day moving average price of $1.15 and a two-hundred day moving average price of $1.45. The stock has a market cap of $46.01 million, a P/E ratio of -0.59 and a beta of -1.70.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.05. The business had revenue of $0.30 million during the quarter. Analysts predict that Rallybio will post -1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rallybio

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Rallybio by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock valued at $1,992,000 after purchasing an additional 12,801 shares during the last quarter. Johnson & Johnson bought a new stake in shares of Rallybio in the 2nd quarter valued at $4,873,000. Acadian Asset Management LLC bought a new stake in shares of Rallybio in the 1st quarter valued at $57,000. Almitas Capital LLC bought a new stake in shares of Rallybio in the 2nd quarter valued at $135,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Rallybio in the 2nd quarter valued at $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.