Rallybio (NASDAQ:RLYB) Given Buy Rating at HC Wainwright

Rallybio (NASDAQ:RLYB)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $5.00 price objective on the stock.

Rallybio Stock Down 3.7 %

Rallybio stock opened at $0.63 on Monday. The firm has a market cap of $26.22 million, a P/E ratio of -0.39 and a beta of -1.45. The business has a fifty day moving average of $0.81 and a two-hundred day moving average of $0.97. Rallybio has a twelve month low of $0.62 and a twelve month high of $3.46.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings data on Thursday, March 13th. The company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.02. The company had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.15 million. Equities analysts expect that Rallybio will post -1.34 earnings per share for the current year.

Hedge Funds Weigh In On Rallybio

Several hedge funds have recently modified their holdings of RLYB. Allostery Investments LP purchased a new stake in Rallybio during the 4th quarter worth approximately $771,000. Almitas Capital LLC lifted its stake in shares of Rallybio by 48.3% during the fourth quarter. Almitas Capital LLC now owns 1,298,119 shares of the company’s stock worth $1,246,000 after buying an additional 422,685 shares during the period. Northeast Financial Consultants Inc grew its holdings in shares of Rallybio by 336.5% during the fourth quarter. Northeast Financial Consultants Inc now owns 96,422 shares of the company’s stock valued at $93,000 after buying an additional 74,334 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of Rallybio by 9.3% in the 4th quarter. Renaissance Technologies LLC now owns 441,318 shares of the company’s stock valued at $424,000 after acquiring an additional 37,618 shares during the period. Finally, FMR LLC raised its stake in Rallybio by 1.1% in the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after acquiring an additional 25,422 shares during the last quarter. Institutional investors and hedge funds 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.