HC Wainwright reaffirmed their buy rating on shares of Rallybio (NASDAQ:RLYB – Free Report) in a research note issued to investors on Monday,Benzinga reports. HC Wainwright currently has a $5.00 target price on the stock.
Rallybio Trading Down 1.9 %
NASDAQ:RLYB opened at $0.92 on Monday. Rallybio has a 12-month low of $0.84 and a 12-month high of $3.46. The stock has a 50-day moving average price of $1.02 and a 200 day moving average price of $1.12. The stock has a market capitalization of $38.27 million, a P/E ratio of -0.58 and a beta of -1.48.
Institutional Trading of Rallybio
Several institutional investors have recently made changes to their positions in RLYB. Johnson & Johnson purchased a new position in Rallybio during the 2nd quarter valued at approximately $4,873,000. FMR LLC grew its holdings in Rallybio by 1.1% during the 3rd quarter. FMR LLC now owns 2,315,480 shares of the company’s stock valued at $2,709,000 after buying an additional 25,422 shares in the last quarter. Almitas Capital LLC purchased a new position in Rallybio during the 2nd quarter valued at approximately $135,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Rallybio during the 2nd quarter valued at approximately $61,000. Finally, Acadian Asset Management LLC grew its holdings in Rallybio by 116.3% during the 2nd quarter. Acadian Asset Management LLC now owns 67,695 shares of the company’s stock valued at $89,000 after buying an additional 36,401 shares in the last quarter. 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.
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