Rallybio (NASDAQ:RLYB) Rating Reiterated by HC Wainwright

HC Wainwright restated their buy rating on shares of Rallybio (NASDAQ:RLYB) in a research report released on Tuesday, Benzinga reports. The brokerage currently has a $6.00 target price on the stock.

Separately, Evercore ISI reissued an outperform rating and set a $15.00 price target on shares of Rallybio in a research note on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $10.00.

Rallybio Stock Performance

Rallybio stock opened at $1.10 on Tuesday. The company has a market cap of $45.59 million, a P/E ratio of -0.59 and a beta of -1.70. Rallybio has a one year low of $1.08 and a one year high of $4.60. The business has a fifty day moving average of $1.16 and a two-hundred day moving average of $1.45.

Rallybio (NASDAQ:RLYB) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.05. The company had revenue of $0.30 million during the quarter. Sell-side analysts predict that Rallybio will post -1.45 EPS for the current year.

Institutional Trading of Rallybio

Institutional investors and hedge funds have recently modified their holdings of the business. Johnson & Johnson purchased a new position in shares of Rallybio during the 2nd quarter worth approximately $4,873,000. Almitas Capital LLC acquired a new stake in Rallybio during the 2nd quarter valued at $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Rallybio during the second quarter worth $61,000. Acadian Asset Management LLC raised its holdings 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 worth $89,000 after acquiring an additional 36,401 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Rallybio in the second quarter valued at $25,000. Hedge funds and other 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.