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

HC Wainwright reaffirmed their buy rating on shares of Rallybio (NASDAQ:RLYB) in a research report released on Tuesday morning, Benzinga reports. They currently have a $6.00 price objective on the stock.

Separately, Evercore ISI reiterated an outperform rating and issued a $15.00 price objective on shares of Rallybio in a report 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 stock. According to MarketBeat, Rallybio currently has an average rating of Moderate Buy and a consensus target price of $10.00.

Rallybio Stock Up 0.9 %

Shares of Rallybio stock opened at $1.10 on Tuesday. Rallybio has a 52-week low of $1.08 and a 52-week high of $4.60. The company has a market capitalization of $45.59 million, a P/E ratio of -0.59 and a beta of -1.70. The company has a 50 day moving average of $1.16 and a 200 day moving average of $1.45.

Rallybio (NASDAQ:RLYB) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.05. The firm had revenue of $0.30 million for the quarter. As a group, research analysts anticipate that Rallybio will post -1.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rallybio

A number of institutional investors and hedge funds have recently bought and sold shares of RLYB. Hsbc Holdings PLC acquired a new stake in shares of Rallybio during the second quarter worth about $25,000. Acadian Asset Management LLC acquired a new position in Rallybio during the first quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Rallybio in the second quarter valued at approximately $61,000. Almitas Capital LLC acquired a new stake in shares of Rallybio in the second quarter valued at approximately $135,000. Finally, Vanguard Group Inc. grew its position in shares of Rallybio by 1.2% during the first quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after acquiring an additional 12,801 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

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.