HC Wainwright Reiterates Buy Rating for Rallybio (NASDAQ:RLYB)

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

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

Rallybio Price Performance

Shares of NASDAQ RLYB opened at $1.02 on Friday. Rallybio has a 1 year low of $0.95 and a 1 year high of $3.46. The firm has a 50-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 P/E ratio of -0.64 and a beta of -1.67.

Institutional Investors Weigh In On Rallybio

A number of institutional investors have recently made changes to their positions in RLYB. Vanguard Group Inc. boosted its stake in Rallybio by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock valued at $1,992,000 after purchasing an additional 12,801 shares during the last quarter. Johnson & Johnson purchased a new stake in shares of Rallybio during the second quarter valued at $4,873,000. Acadian Asset Management LLC purchased a new stake in shares of Rallybio during the first quarter valued at $57,000. Almitas Capital LLC bought a new stake in Rallybio in the 2nd quarter worth about $135,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Rallybio in the 2nd quarter worth about $61,000. Hedge funds and other institutional investors 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.