Rallybio (NASDAQ:RLYB) Stock Rating Reaffirmed by HC Wainwright

Rallybio (NASDAQ:RLYB)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued on Friday, Benzinga reports. They presently have a $9.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 391.80% from the stock’s previous close.

A number of other brokerages have also commented on RLYB. Jefferies Financial Group lowered Rallybio from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. Wedbush lowered their price objective on shares of Rallybio from $13.00 to $11.00 and set an “outperform” rating on the stock in a research report on Thursday, April 11th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $8.00 target price on shares of Rallybio in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.20.

Rallybio Stock Down 3.7 %

Shares of NASDAQ RLYB opened at $1.83 on Friday. Rallybio has a 52-week low of $1.23 and a 52-week high of $9.14. The stock has a market capitalization of $69.19 million, a price-to-earnings ratio of -0.97 and a beta of -1.63. The stock’s fifty day simple moving average is $1.78 and its 200 day simple moving average is $2.14.

Rallybio (NASDAQ:RLYB) last issued its quarterly earnings results on Tuesday, March 12th. The company reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.44) by ($0.06). As a group, analysts anticipate that Rallybio will post -1.6 earnings per share for the current year.

Institutional Trading of Rallybio

A number of institutional investors have recently added to or reduced their stakes in RLYB. abrdn plc bought a new stake in Rallybio in the fourth quarter worth $4,128,000. Financial Security Advisor Inc. bought a new stake in Rallybio in the third quarter worth $169,000. Acadian Asset Management LLC bought a new stake in Rallybio in the first quarter worth $57,000. SG Americas Securities LLC bought a new stake in Rallybio in the fourth quarter worth $40,000. Finally, Vanguard Group Inc. boosted its holdings in Rallybio by 1.2% in the first 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 in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.