HC Wainwright Issues Pessimistic Forecast for Rallybio (NASDAQ:RLYB) Stock Price

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

Separately, Evercore ISI reissued an “outperform” rating and issued a $15.00 price objective 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 given a buy rating to the stock. According to MarketBeat, Rallybio presently has an average rating of “Moderate Buy” and an average price target of $9.75.

Rallybio Stock Up 5.0 %

Rallybio stock opened at $1.05 on Friday. The business has a fifty day moving average of $1.08 and a two-hundred day moving average of $1.32. The firm has a market cap of $43.56 million, a P/E ratio of -0.66 and a beta of -1.67. Rallybio has a twelve month low of $0.96 and a twelve month high of $3.46.

Institutional Trading of Rallybio

A number of institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Rallybio during the 2nd quarter worth about $61,000. Almitas Capital LLC acquired a new stake in Rallybio during the 2nd quarter worth about $135,000. Hsbc Holdings PLC acquired a new stake in Rallybio during the 2nd quarter worth about $25,000. Johnson & Johnson acquired a new stake in Rallybio during the 2nd quarter worth about $4,873,000. Finally, Acadian Asset Management LLC lifted its position in Rallybio by 116.3% during the 2nd 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 period. Institutional investors and hedge funds 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.