HC Wainwright Cuts Rallybio (NASDAQ:RLYB) Price Target to $6.00

Rallybio (NASDAQ:RLYB) had its price target decreased by HC Wainwright from $9.00 to $6.00 in a research report report published on Monday, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other brokerages also recently commented on RLYB. JMP Securities restated a market outperform rating and issued a $8.00 target price on shares of Rallybio in a research note on Thursday, April 18th. JPMorgan Chase & Co. downgraded Rallybio from an overweight rating to a neutral rating in a research report on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $10.00.

Rallybio Stock Performance

Rallybio stock opened at $1.09 on Monday. Rallybio has a fifty-two week low of $1.09 and a fifty-two week high of $6.16. The company has a market cap of $45.18 million, a PE ratio of -0.58 and a beta of -1.69. The business’s 50-day simple moving average is $1.36 and its two-hundred day simple moving average is $1.61.

Rallybio (NASDAQ:RLYB) last issued its earnings results on Thursday, August 8th. The company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.05. The firm had revenue of $0.30 million during the quarter. As a group, analysts predict that Rallybio will post -1.42 EPS for the current fiscal year.

Institutional Investors Weigh In On Rallybio

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Rallybio by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 1,076,771 shares of the company’s stock worth $1,992,000 after purchasing an additional 12,801 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Rallybio during the fourth quarter valued at about $40,000. Hsbc Holdings PLC purchased a new stake in shares of Rallybio in the 2nd quarter valued at approximately $25,000. Acadian Asset Management LLC acquired a new position in shares of Rallybio in the 1st quarter worth approximately $57,000. Finally, abrdn plc acquired a new position in shares of Rallybio in the 4th quarter worth approximately $4,128,000. 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.