Rallybio (NASDAQ:RLYB) Given Buy Rating at HC Wainwright

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

Separately, Evercore ISI reissued an “outperform” rating and set a $15.00 target price on shares of Rallybio in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.75.

Rallybio Stock Performance

RLYB stock opened at $1.05 on Friday. Rallybio has a one year low of $0.95 and a one year high of $3.46. The firm has a market cap of $43.56 million, a price-to-earnings ratio of -0.66 and a beta of -1.67. The firm has a 50-day simple moving average of $1.06 and a two-hundred day simple moving average of $1.26.

Institutional Investors Weigh In On Rallybio

A number of large investors have recently modified their holdings of RLYB. Vanguard Group Inc. boosted its stake in Rallybio by 1.2% in the 1st 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. Johnson & Johnson acquired a new stake in shares of Rallybio during the second quarter worth $4,873,000. Acadian Asset Management LLC purchased a new stake in shares of Rallybio during the first quarter valued at $57,000. Almitas Capital LLC acquired a new position in shares of Rallybio in the 2nd quarter valued at $135,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Rallybio in the 2nd quarter worth $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.