Rallybio (NASDAQ:RLYB) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Rallybio (NASDAQ:RLYB) in a research report report published on Wednesday,Benzinga reports. They currently have a $5.00 price target on the stock.

Rallybio Trading Down 2.8 %

NASDAQ:RLYB opened at $0.73 on Wednesday. The company’s 50-day moving average is $0.94 and its two-hundred day moving average is $1.05. Rallybio has a 1-year low of $0.73 and a 1-year high of $3.46.

Institutional Investors Weigh In On Rallybio

A hedge fund recently raised its stake in Rallybio stock. Geode Capital Management LLC increased its stake in shares of Rallybio Co. (NASDAQ:RLYB) by 11.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,986 shares of the company’s stock after acquiring an additional 24,980 shares during the quarter. Geode Capital Management LLC owned about 0.59% of Rallybio worth $287,000 at the end of the most recent quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.