HC Wainwright Cuts Rallybio (NASDAQ:RLYB) Price Target to $5.00

Rallybio (NASDAQ:RLYB) had its price objective reduced by HC Wainwright from $6.00 to $5.00 in a research report report published on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Separately, Evercore ISI restated an “outperform” rating and issued a $15.00 price objective on shares of Rallybio in a research note on Monday, August 26th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Rallybio presently has an average rating of “Moderate Buy” and an average target price of $9.75.

Rallybio Stock Up 1.0 %

Rallybio stock traded up $0.01 during trading hours on Friday, hitting $1.00. The stock had a trading volume of 86,420 shares, compared to its average volume of 580,397. The company has a 50-day moving average of $1.08 and a two-hundred day moving average of $1.33. Rallybio has a fifty-two week low of $0.96 and a fifty-two week high of $3.46. The company has a market cap of $41.49 million, a PE ratio of -0.56 and a beta of -1.67.

Rallybio (NASDAQ:RLYB) last issued its earnings results on Thursday, August 8th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. The firm had revenue of $0.30 million during the quarter. As a group, analysts forecast that Rallybio will post -1.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Rallybio

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 12,801 shares in the last quarter. Johnson & Johnson acquired a new position in Rallybio during the 2nd quarter worth about $4,873,000. Acadian Asset Management LLC bought a new stake in Rallybio during the 1st quarter worth about $57,000. Almitas Capital LLC acquired a new stake in Rallybio in the 2nd quarter valued at about $135,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Rallybio in the second quarter worth about $61,000. 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.