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

Rallybio (NASDAQ:RLYB)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $5.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 405.77% from the stock’s current price.

Separately, Evercore ISI reissued an “outperform” rating and set a $15.00 target price on shares of Rallybio in a research note on Monday, August 26th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Rallybio currently has an average rating of “Moderate Buy” and an average target price of $9.75.

Rallybio Trading Down 0.6 %

Shares of Rallybio stock opened at $0.99 on Friday. Rallybio has a 12 month low of $0.95 and a 12 month high of $3.46. The stock’s fifty day simple moving average is $1.07 and its 200 day simple moving average is $1.28. The company has a market capitalization of $41.02 million, a PE ratio of -0.62 and a beta of -1.67.

Institutional Investors Weigh In On Rallybio

Several institutional investors have recently bought and sold shares of RLYB. Johnson & Johnson acquired a new stake in shares of Rallybio in the second quarter valued at approximately $4,873,000. FMR LLC grew its position in Rallybio by 1.1% in the third quarter. FMR LLC now owns 2,315,480 shares of the company’s stock valued at $2,709,000 after purchasing an additional 25,422 shares in the last quarter. Vanguard Group Inc. lifted its position in 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 buying an additional 12,801 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Rallybio by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock worth $287,000 after buying an additional 24,980 shares during the last quarter. Finally, Almitas Capital LLC bought a new position in shares of Rallybio in the 2nd quarter valued at about $135,000. Institutional investors own 90.34% of the company’s stock.

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.