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

Rallybio (NASDAQ:RLYB)‘s stock had its “buy” rating reiterated by HC Wainwright in a report released on Monday,Benzinga reports. They currently have a $5.00 price target on the stock.

Rallybio Price Performance

Shares of NASDAQ RLYB opened at $0.63 on Monday. Rallybio has a 1 year low of $0.62 and a 1 year high of $3.46. The firm has a 50-day simple moving average of $0.81 and a two-hundred day simple moving average of $0.97. The company has a market cap of $26.22 million, a P/E ratio of -0.39 and a beta of -1.45.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings results on Thursday, March 13th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. The business had revenue of $0.04 million for the quarter, compared to the consensus estimate of $0.15 million. As a group, equities research analysts expect that Rallybio will post -1.34 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in Rallybio by 11.4% in the 3rd quarter. Geode Capital Management LLC now owns 244,986 shares of the company’s stock worth $287,000 after acquiring an additional 24,980 shares in the last quarter. FMR LLC grew its stake in Rallybio by 1.1% in the third 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. Renaissance Technologies LLC increased its holdings in 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 during the period. Northeast Financial Consultants Inc raised its position in Rallybio by 336.5% during the 4th quarter. Northeast Financial Consultants Inc now owns 96,422 shares of the company’s stock valued at $93,000 after purchasing an additional 74,334 shares in the last quarter. Finally, Almitas Capital LLC lifted its holdings in shares of Rallybio by 48.3% in the 4th quarter. Almitas Capital LLC now owns 1,298,119 shares of the company’s stock worth $1,246,000 after buying an additional 422,685 shares during the period. 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.