Rallybio’s (RLYB) Buy Rating Reaffirmed at HC Wainwright

Rallybio (NASDAQ:RLYB)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $5.00 price objective on the stock. HC Wainwright’s price objective points to a potential upside of 390.20% from the stock’s previous close.

Separately, Evercore ISI reaffirmed an “outperform” rating and set a $15.00 price target on shares of Rallybio in a research report on Monday, August 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.75.

Rallybio Stock Performance

Rallybio stock opened at $1.02 on Friday. Rallybio has a one year low of $0.95 and a one year high of $3.46. The stock has a fifty day moving average of $1.06 and a 200 day moving average of $1.27. The stock has a market cap of $42.32 million, a PE ratio of -0.64 and a beta of -1.67.

Institutional Trading of Rallybio

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised 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 period. Acadian Asset Management LLC bought a new stake in Rallybio during the 1st quarter worth approximately $57,000. Johnson & Johnson purchased a new position in Rallybio during the second quarter valued at approximately $4,873,000. Hsbc Holdings PLC bought a new position in shares of Rallybio in the second quarter worth approximately $25,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Rallybio in the second quarter worth $61,000. 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.