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

HC Wainwright reaffirmed their buy rating on shares of Rallybio (NASDAQ:RLYB) in a report issued on Friday morning,Benzinga reports. The brokerage currently has a $5.00 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 research note on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.75.

Rallybio Stock Up 3.2 %

Shares of NASDAQ:RLYB opened at $1.02 on Friday. The company has a 50 day moving average of $1.06 and a 200-day moving average of $1.27. Rallybio has a twelve month low of $0.95 and a twelve month high of $3.46.

Institutional Trading of Rallybio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new stake in Rallybio during the second quarter valued at approximately $25,000. Acadian Asset Management LLC acquired a new stake in Rallybio during the first quarter valued at approximately $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Rallybio during the second quarter valued at approximately $61,000. Almitas Capital LLC acquired a new stake in Rallybio during the second quarter valued at approximately $135,000. Finally, Geode Capital Management LLC raised its holdings in shares of Rallybio by 11.4% during the third quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after acquiring an additional 24,980 shares during the period. 90.34% of the stock is owned by institutional investors and hedge funds.

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.