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

Rallybio (NASDAQ:RLYB)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $5.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 350.45% from the stock’s previous close.

Separately, Evercore ISI reissued an “outperform” rating and set a $15.00 price objective on shares of Rallybio in a research note 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, Rallybio presently has a consensus rating of “Moderate Buy” and an average target price of $9.75.

Rallybio Trading Down 1.8 %

Shares of RLYB traded down $0.02 during midday trading on Tuesday, hitting $1.11. 8,864 shares of the company’s stock traded hands, compared to its average volume of 545,191. The firm’s fifty day moving average is $1.06 and its 200-day moving average is $1.24. The stock has a market capitalization of $46.05 million, a price-to-earnings ratio of -0.71 and a beta of -1.55. Rallybio has a 1 year low of $0.95 and a 1 year high of $3.46.

Institutional Investors Weigh In On Rallybio

A number of large investors have recently made changes to their positions in RLYB. Vanguard Group Inc. grew its stake in Rallybio by 1.2% in the first 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 in the last quarter. Hsbc Holdings PLC purchased a new position in Rallybio in the 2nd quarter valued at $25,000. Geode Capital Management LLC raised 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. FMR LLC grew its holdings in shares of Rallybio by 1.1% during the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after purchasing an additional 25,422 shares during the period. Finally, Acadian Asset Management LLC raised its position 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 valued at $89,000 after acquiring an additional 36,401 shares in the last quarter. 90.34% of the stock is currently 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.