Rallybio (NASDAQ:RLYB) Price Target Cut to $5.00 by Analysts at HC Wainwright

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

Separately, Evercore ISI reiterated an “outperform” rating and issued a $15.00 target price on shares of Rallybio in a report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Rallybio has a consensus rating of “Moderate Buy” and an average price target of $9.75.

Rallybio Price Performance

Rallybio stock traded up $0.01 during midday trading on Friday, reaching $1.00. The stock had a trading volume of 86,420 shares, compared to its average volume of 580,397. Rallybio has a twelve month low of $0.96 and a twelve month high of $3.46. The firm has a market cap of $41.49 million, a price-to-earnings ratio of -0.56 and a beta of -1.67. The firm’s fifty day simple moving average is $1.08 and its two-hundred day simple moving average is $1.33.

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

Institutional Investors Weigh In On Rallybio

Several institutional investors have recently made changes to their positions in RLYB. Hsbc Holdings PLC bought a new stake in shares of Rallybio during the 2nd quarter worth about $25,000. Acadian Asset Management LLC bought a new stake in Rallybio during the first quarter worth approximately $57,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Rallybio during the second quarter valued at approximately $61,000. Almitas Capital LLC bought a new position in shares of Rallybio in the second quarter valued at approximately $135,000. Finally, Vanguard Group Inc. lifted its stake in shares of 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 buying an additional 12,801 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.