Rallybio’s (RLYB) “Buy” Rating Reaffirmed at HC Wainwright

Rallybio (NASDAQ:RLYB)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They presently have a $5.00 target price on the stock. HC Wainwright’s target price points to a potential upside of 431.91% from the company’s previous close.

Rallybio Price Performance

NASDAQ RLYB opened at $0.94 on Monday. The stock has a market capitalization of $39.00 million, a PE ratio of -0.59 and a beta of -1.48. Rallybio has a 1 year low of $0.84 and a 1 year high of $3.46. The business’s 50-day moving average is $1.02 and its 200 day moving average is $1.12.

Institutional Trading of Rallybio

Several large investors have recently modified their holdings of RLYB. Hsbc Holdings PLC bought a new stake in shares of Rallybio in the second quarter worth about $25,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Rallybio during the 2nd quarter valued at approximately $61,000. Acadian Asset Management LLC boosted its position 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 acquiring an additional 36,401 shares in the last quarter. Almitas Capital LLC bought a new stake in Rallybio during the 2nd quarter valued at approximately $135,000. Finally, Geode Capital Management LLC boosted its position in Rallybio by 11.4% during the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock valued at $287,000 after acquiring an additional 24,980 shares in the last quarter. 90.34% of the stock is owned by 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.