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

Rallybio (NASDAQ:RLYB)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $5.00 price objective on the stock.

Rallybio Price Performance

NASDAQ:RLYB opened at $0.79 on Wednesday. The firm’s fifty day moving average price is $0.93 and its 200 day moving average price is $1.04. Rallybio has a 1-year low of $0.73 and a 1-year high of $3.46. The firm has a market cap of $32.57 million, a price-to-earnings ratio of -0.49 and a beta of -1.49.

Hedge Funds Weigh In On Rallybio

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Rallybio by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock worth $287,000 after purchasing an additional 24,980 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Rallybio by 9.3% during the 4th quarter. Renaissance Technologies LLC now owns 441,318 shares of the company’s stock worth $424,000 after purchasing an additional 37,618 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Rallybio by 1.1% during the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock worth $2,709,000 after purchasing an additional 25,422 shares in the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

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.