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

Rallybio (NASDAQ:RLYB)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $5.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 405.77% from the company’s previous close.

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

Rallybio Stock Down 0.6 %

Shares of RLYB opened at $0.99 on Friday. The company has a 50-day moving average price of $1.07 and a two-hundred day moving average price of $1.28. The stock has a market cap of $41.02 million, a price-to-earnings ratio of -0.62 and a beta of -1.67. Rallybio has a 12 month low of $0.95 and a 12 month high of $3.46.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Hsbc Holdings PLC bought a new position in Rallybio in the second quarter valued at about $25,000. Acadian Asset Management LLC bought a new stake in shares of Rallybio during the first quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. bought a new position in Rallybio in the second quarter valued at approximately $61,000. Almitas Capital LLC bought a new stake in shares of Rallybio during the 2nd quarter valued at $135,000. Finally, Geode Capital Management LLC boosted its position in shares of Rallybio by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock worth $287,000 after purchasing an additional 24,980 shares during the last quarter. Institutional investors and hedge funds 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.