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

HC Wainwright restated their buy rating on shares of Rallybio (NASDAQ:RLYB) in a research note released on Wednesday, Benzinga reports. The firm currently has a $6.00 price target on the stock.

Separately, Evercore ISI reaffirmed an “outperform” rating and issued a $15.00 price target on shares of Rallybio in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Rallybio Stock Performance

RLYB stock opened at $1.01 on Wednesday. The company has a market capitalization of $41.90 million, a price-to-earnings ratio of -0.56 and a beta of -1.70. Rallybio has a fifty-two week low of $0.96 and a fifty-two week high of $4.45. The stock has a fifty day moving average of $1.10 and a 200-day moving average of $1.35.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of 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 acquiring an additional 12,801 shares during the period. Johnson & Johnson bought a new position in shares of Rallybio in the second quarter worth about $4,873,000. Acadian Asset Management LLC bought a new position in shares of Rallybio in the first quarter worth about $57,000. Almitas Capital LLC purchased a new stake in shares of Rallybio in the second quarter worth about $135,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Rallybio in the second quarter worth about $61,000. 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.