HC Wainwright reiterated their buy rating on shares of Rallybio (NASDAQ:RLYB – Free Report) in a research report report published on Monday morning,Benzinga reports. They currently have a $5.00 target price on the stock.
Rallybio Trading Up 1.1 %
RLYB stock opened at $0.90 on Monday. The stock has a market capitalization of $37.34 million, a P/E ratio of -0.56 and a beta of -1.48. The firm has a 50-day moving average price of $1.02 and a 200-day moving average price of $1.11. Rallybio has a 12 month low of $0.84 and a 12 month high of $3.46.
Institutional Trading of Rallybio
Hedge funds and other institutional investors have recently modified their holdings of the stock. Johnson & Johnson acquired a new stake in shares of Rallybio during the 2nd quarter valued at $4,873,000. Almitas Capital LLC acquired a new stake in shares of Rallybio during the second quarter valued at about $135,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Rallybio during the second quarter valued at about $61,000. Acadian Asset Management LLC increased its stake in shares of Rallybio by 116.3% in the second quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock valued at $89,000 after buying an additional 36,401 shares during the period. Finally, FMR LLC increased its stake in shares of 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 buying an additional 25,422 shares during the period. 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.
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