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

Rallybio (NASDAQ:RLYB)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a note issued to investors on Wednesday, Benzinga reports. They presently have a $6.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 475.65% from the company’s current price.

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

Rallybio Trading Up 2.2 %

NASDAQ:RLYB opened at $1.04 on Wednesday. The stock’s 50-day moving average is $1.11 and its 200-day moving average is $1.36. The stock has a market cap of $43.25 million, a P/E ratio of -0.57 and a beta of -1.70. Rallybio has a 1-year low of $0.96 and a 1-year high of $4.50.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in RLYB. Johnson & Johnson acquired a new stake in Rallybio during the second quarter worth approximately $4,873,000. Vanguard Group Inc. boosted its holdings in shares of Rallybio by 1.2% during the 1st 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 in the last quarter. Almitas Capital LLC acquired a new stake in shares of Rallybio during the 2nd quarter worth approximately $135,000. Acadian Asset Management LLC increased its stake in shares of Rallybio by 116.3% in the 2nd quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock valued at $89,000 after acquiring an additional 36,401 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Rallybio during the 2nd quarter valued at $61,000. 90.34% of the stock is 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.